Amazon.com (NASDAQ:AMZN) maybe entering the sporting goods sector, Reuters quotes Credit Suisse (NYSE:CS) as saying.
The analysts reached the conclusion after looking at job ads by the company. Amazon's new initiative would put in competition with sporting goods retailers, including Dick's Sporting Goods (NYSE:DKS), Hibbett (NASDAQ:HIBB) and Cabela's (NYSE:CAB).
Amazon will release their quarterly earnings on Tuesday.
Amazon.com (NASDAQ:AMZN) has potential upside of 22.5% based on a current price of $192.15 and an average consensus analyst price target of $235.44.
Amazon.com is currently above its 50-day moving average (MA) of $186.74 and should find resistance at its 200-day MA of $202.18.
In the last five trading sessions, the 50-day MA has fallen 1.34% while the 200-day MA has remained constant.
Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company's products include books, music, videotapes, computers, electronics, home and garden, and numerous other products. Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers.
