JP Morgan analyst Doug Anmuth this afternoon reiterates an overweight rating on shares of Amazon.com (AMZN) in what amounts to a direct response to the somewhat negative remarks this morning by Goldman Sachs’s Heather Bellini.
Bellini had written that comScore’s estimate of 15% growth this quarter might mean Amazon’s sales would miss expectations if the company turned in only its average upside of 23 percentage points above the that overall growth figure.
But Anmuth observes that Amazon’s outperformance relative to comScore data has been expanding this year, averaging 33 percentage points in the last three quarters.
Anmuth believes that means Amazon could deliver at least 32 percentage points of growth above comScore’s figure, turning in 47% growth. That would put Amazon’s total sales growth ahead of the 44% that Bellini cited as the consensus that Amazon has to beat.
Case of Analyst alignment?