Amazon Halts New Delivery Service To Focus On Demand Surge

E-commerce giant Amazon (AMZN) will suspend its delivery service for non-Amazon packages, according to people familiar with the matter, The Wall Street Journal reports.Amazon Shipping- a new service that was being trialed in US cities like Los Angeles- will be halted from the beginning of June, according to the report. This will allow AMZN to focus on a surge in its own customers’ orders.In a note to shippers, seen by The Wall Street Journal, Amazon wrote “We understand this is a change to your business, and we did not take this decision lightly… We will work with you over the next several weeks so there is as little disruption to your business as possible.”From an investing perspective, Amazon certainly has the Street’s seal of approval. TipRanks reveals a ‘Strong Buy’ analyst consensus for AMZN with 37 buy ratings in the last three months, versus just one hold rating. (See Amazon’s stock analysis on TipRanks)Meanwhile the average analyst price target translates into 20% upside potential from current levels. Defying the general market trend, shares are currently trading up 9% year-to-date.“Reiterate Outperform based on [RBC Capital’s] 5th Annual U.S. Grocery Survey and our view that the COVID Crisis is creating an inflection point for Online Staples/Grocery Shopping, with AMZN a key beneficiary” commented RBC Capital analyst Mark Mahaney on April 7. He has a $2400 price target on the stock.Related News: Put Amazon (AMZN) Stock on Your Grocery List, Says Top Analyst GenMark Sees 80% Q1 Revenue Boost on Covid-19 Tests Exxon Mobil Slashes Capital Spending by 30% to Combat Oil Price Collapse More recent articles from Smarter Analyst: * Pinterest Shares Surge 14% in After-Hours Trading On Positive Q1 Guidance * GenMark Sees 80% Q1 Revenue Boost on Covid-19 Tests * Roku: Covid-19 to Impact Ad Revenue, Top Analyst Reduces Estimates * Is Apple Stock a Buy Right Now? This Is What You Need to Know Read More...

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="E-commerce giant Amazon (AMZN) will suspend its delivery service for non-Amazon packages, according to people familiar with the matter, The Wall Street Journal reports.” data-reactid=”12″>E-commerce giant Amazon (AMZN) will suspend its delivery service for non-Amazon packages, according to people familiar with the matter, The Wall Street Journal reports.

Amazon Shipping- a new service that was being trialed in US cities like Los Angeles- will be halted from the beginning of June, according to the report. This will allow AMZN to focus on a surge in its own customers’ orders.

In a note to shippers, seen by The Wall Street Journal, Amazon wrote “We understand this is a change to your business, and we did not take this decision lightly… We will work with you over the next several weeks so there is as little disruption to your business as possible.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="From an investing perspective, Amazon certainly has the Street’s seal of approval. TipRanks reveals a ‘Strong Buy’ analyst consensus for AMZN with 37 buy ratings in the last three months, versus just one hold rating. (See Amazon’s stock analysis on TipRanks)” data-reactid=”15″>From an investing perspective, Amazon certainly has the Street’s seal of approval. TipRanks reveals a ‘Strong Buy’ analyst consensus for AMZN with 37 buy ratings in the last three months, versus just one hold rating. (See Amazon’s stock analysis on TipRanks)

Meanwhile the average analyst price target translates into 20% upside potential from current levels. Defying the general market trend, shares are currently trading up 9% year-to-date.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="“Reiterate Outperform based on [RBC Capital’s] 5th Annual U.S. Grocery Survey and our view that the COVID Crisis is creating an inflection point for Online Staples/Grocery Shopping, with AMZN a key beneficiary” commented RBC Capital analyst Mark Mahaney on April 7. He has a $2400 price target on the stock.” data-reactid=”25″>“Reiterate Outperform based on [RBC Capital’s] 5th Annual U.S. Grocery Survey and our view that the COVID Crisis is creating an inflection point for Online Staples/Grocery Shopping, with AMZN a key beneficiary” commented RBC Capital analyst Mark Mahaney on April 7. He has a $2400 price target on the stock.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Related News:
Put Amazon (AMZN) Stock on Your Grocery List, Says Top Analyst
GenMark Sees 80% Q1 Revenue Boost on Covid-19 Tests
Exxon Mobil Slashes Capital Spending by 30% to Combat Oil Price Collapse  ” data-reactid=”26″>Related News:
Put Amazon (AMZN) Stock on Your Grocery List, Says Top Analyst
GenMark Sees 80% Q1 Revenue Boost on Covid-19 Tests
Exxon Mobil Slashes Capital Spending by 30% to Combat Oil Price Collapse