, Inc. Is Set To Open First Storefront In NYC

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By Sarah Roden, Inc. (NASDAQ:AMZN) is a Seattle, Washington based international electronic commerce website and the largest internet company in the world. The e-commerce company is poised to open its first brick-and-mortar store in Manhattan, set to open in time for this year’s holiday season. Amazon is also planning to grant Amazon Prime members (the expedited version of Amazon) early access to holiday deals as the holiday season approaches.

While some think the storefront across from the iconic Empire State Building is primarily for marketing purposes, others insist that it will help increase Amazon’s revenue. The storefront will primarily serve as a mini-warehouse to make New York City deliveries more accessible for Amazon. Many see this expansion as an effort to make same-day deliveries less costly, especially as orders spike when holiday season approaches. Customers are often wary of ordering holiday gifts online for fear that they will not arrive in time. Having a storefront in Manhattan is expected to quell this concern and boost holiday orders.

Amazon is also creating new early-access deals for Amazon Prime customers by allowing a 30 minute head start on “Lightening Deals,” or limited time promotions for specific products. The company is hoping to increase revenue by capitalizing on customers who are looking to find deals by “adding new ways for customers to find special gifts for everyone on their list with savings throughout the season,” said Greg Greeley, Vice President of Amazon Prime. “With early access deals for Prime members, we are providing our most frequent shoppers with a first look at some of the best offers from Amazon.”

Shares of Amazon opened at $310.00 on Monday, October 13th. The online marketplace has a 1-year high of $408.06 and a 1-year low of $284.38. The stock’s daily moving average is $308.34 and has a 50-day moving average of $328.24. The market cap for, Inc. (NASDAQ:AMZN) is $141.59 billion and the P/E ratio is 781.76.

On Monday, October 13 Justin Post of Merrill Lynch/Bank of America maintained a Buy rating on Amazon with price target of $390. He noted, “We think industry trends improved modestly in the U.S. in 3Q given ComScore and ChannelAdvisor data and see potential for better stock performance if the U.S. retail business improves.” Post ranked #31 out of 3343 analysts on TipRanks, earning a success rate of 65% recommending stocks and a +23.5 average return of per recommendation. He has also rated Amazon 11 times, earning a 44% success rate recommending the stock.

Separately on October 13th, Investor Place blogger Portfolio Grader named Amazon as an e-commerce stock to Sell due to its ratings falling in the past week. Portfolio Grader has a 35% success rate recommending stocks, earning a -0.4% average return per recommendation.

On average, the top analyst consensus is a Moderate Buy.

To see more recommendations for, Inc. (NASDAQ:AMZN), visit TipRanks today!

Sarah Roden writes about stock market news. Sarah can be reached at [email protected]

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