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ECommerceTimes.com

Stock Watch: Is Amazon.com Still A Strong Buy?

By Andy Wang
Apr 30, 1999 12:00 AM PT

Shares of Amazon.com tumbled 13 percent on Thursday, falling 25-1/4 to 168-1/4 one day after the company reported a first-quarter loss of 23 cents per share. That number was six cents better than Wall Street estimates, but there's concern that Amazon.com's $293.6 million (US$) in revenues wasn't as high as some expected and that losses will grow in upcoming quarters.

However, BancBoston Robertson Stephens still has a lot of faith in the stock. BancBoston Robertson Stephens analysts Lauren Cooks Levitan and Keith E. Benjamin reiterated their strong buy rating on Amazon.com on Thursday, saying that "We expect continued announcements of new businesses, investments in early-stage companies, and strategic acquisitions to act as near-term catalysts for the stock." But BT Alex Brown cut its rating on Amazon.com from strong buy to buy on Thursday.

Don't expect the stock's volatility to end anytime soon.


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