Amazon (AMZN) Gains Mindshare In Teen Survey - Piper Jaffray

Piper Jaffray analyst, Gene Munster, digested data on Amazon.com (NASDAQ: AMZN) from the latest Taking Stock With Teens survey (6,500+ teens) and sees another substantial uptick in Amazon mindshare. No change to Overweight rating or $800 PT.

Amazon saw a 230bps increase in mindshare vs. the Fall 2015 survey and a 420bps increase vs. the Spring 2015 survey. Amazon now commands 41% mindshare among teens. Moreover, Prime adoption continues at a quick pace: the survey indicates roughly 57M-61M Prime households in the U.S., growing at ~20% y/y.

51% of teens say their household has a Prime membership, up 320bps vs. our Fall 2015 survey and implies ~20% y/y growth in Prime subscriptions. We believe that 57-61M U.S. households have Prime. Our survey implies that 40% of Prime user growth over the past three years has come from households with more than $112K in annual income where penetration is now 70%.

For an analyst ratings summary and ratings history on Amazon click here. For more ratings news on Amazon click here.

Shares of Amazon closed at $603.17 yesterday.

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