Analyst Update: Amazon, GameStop, Boingo Wireless

Analysts adjusted their ratings on Amazon.com, Inc. (AMZN), GameStop Corp. (GME), and Boingo Wireless Inc (WIFI)

Jan 14, 2015 at 1:30 PM
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Analysts are weighing in today on Internet commerce behemoth Amazon.com, Inc. (NASDAQ:AMZN), video game retailer GameStop Corp. (NYSE:GME), and wireless Internet specialist Boingo Wireless Inc (NASDAQ:WIFI). Here's a quick look at today's brokerage notes on AMZN, GME, and WIFI.

  • AMZN is off 2.7% today at $286.66 after Credit Suisse -- which weighed in on several online names -- cuts its price target on the stock by $6 to $389, while reiterating its "outperform" rating. Amazon.com, Inc. -- which just yesterday was the recipient of an analyst upgrade -- has struggled on the charts, losing 27.6% of its value in the past 52 weeks. Analysts have remained mostly upbeat, however. Of the 30 brokerage firms covering AMZN, 18 deem it a "buy" or better, with the remaining 12 rating it a "hold."

  • Even though it saw its price target slashed by three brokerage firms, GME gapped up this morning -- and was last seen 13% higher at $37.13 -- thanks to an upgrade to "outperform" from "underperform" at Pacific Crest, and last night's news of strong holiday sales. Today's price action puts GameStop Corp. in positive territory on a year-to-date basis, and most likely has short sellers shaking in their boots. Roughly half of GME's float is sold short, and would take over 15 sessions to buy back, at the security's average daily pace of trading. If today's rally sparks a short-squeeze situation, the security could see a boost on the charts.

  • Lastly, WIFI is up 5% today to trade at $7.84, thanks to Credit Suisse, which bumped its price target to $9 from $7, and reaffirmed its "outperform" recommendation. With a year-over-year gain of 22.1%, it's no surprise that all four analysts covering Boingo Wireless Inc rate it a "strong buy." Elsewhere, though, short-term speculators have taken a put-skewed approach. Specifically, the security's Schaeffer's put/call open interest ratio (SOIR) of 1.60 ranks in the 74th percentile of its annual range.
 

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