Piper Jaffray is out with its report today on Amazon.com AMZN, maintaining overweight.
In a note to clients, Piper Jaffray writes, "Amazon reports March results tonight after market close. We expect revenue to be in line with the Street's $9.52 billion (+33% y/y) expectation. We would have expected slight upside if not for the negative impact from the March 11 earthquake in Japan (Japan is 10-15% of total revs). The Street's $0.61 EPS is a wild card based on higher shipping expenses and additional investments causing expenses to rise faster than revenues in the near-term, leading to 11% y/y PF EPS growth in the March quarter. Industry data suggests media segment revenue in line with our numbers. Most importantly, we continue to believe Amazon is the leading company in eCommerce and can grow revenues at a sustained 20%-plus growth pace over the next 3-5 years. We maintain our Overweight rating and $200 price target on AMZN shares."
At the time of posting, shares of AMZN were trading pre-market at $186.75, up 0.72% from Monday's close.
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