Benzinga - by Surbhi Jain, .
Even though the best Black Friday deals might just be starting to roll in, shoppers and investors should start planning for Cyber Monday.
This year, Cyber Monday falls on Nov. 27, following Black Friday. Many companies offer sales to lure online shoppers.
Cyber Monday 2022 was the largest retail e-commerce sales day in U.S. history. Consumers spent $11.3 billion online—up 5.8% over 2021. Adobe expects consumer spending on Cyber Monday 2023 to reach a record-breaking $12 billion, up 6% from 2022.
Estimates from Black Friday 2022 hover at about $9 billion in consumer spending. Companies anticipate Cyber Monday to generate even more moolah.
Let’s look at a few e-commerce players, who stand to benefit from Cyber Monday sales:
Amazon.com Inc. (NASDAQ:AMZN): The e-commerce giant’s official Cyber Monday deals will run from Nov. 25 to Nov. 27. Shoppers can shop Instant Pot kitchen appliances at up to 46% off, Vitamix blenders at up to 37% off and Amazon devices on up to 35% off.
Amazon’s stock too, appears to be trading at a bargain too, in the $145-$147 range, vis-à-vis consensus price target of $169.88 for the stock.
Target Corp (NYSE:TGT): The Minneapolis-based retailer has a two-day Cyber Monday sale over Nov. 26-27. The company will be offering great deals on brands like Keurig, Corelle, Pyrex, Instant Pot, Rubbermaid, Nespresso & Crock Pot.
Target’s stock is trading in the $130-$131 a share range. Consensus price target for this stock $135.91 – a small bargain here!
Walmart Inc. (NYSE:WMT): The discount retailer will start Cyber Monday sales on Sunday, Nov. 26. Walmart will be offering the best deals on tech to trending home essentials.
Walmart’s stock is treading higher lately and has already breached the $155 a share mark. With consensus price target at $172.38, the stock appears to be trading at a bargain.
Best Buy Co Inc (NYSE:BBY): The company’s 2023 Cyber Monday savings event will run from Sunday, Nov. 26 through Monday, Nov. 27. Ranging widely from electronics and appliances to tech gadgets, Best Buy will be offering the best deals on laptops, Mac models, desktops, monitors, accessories and the best prices on 4K TVs, OLED TVs, smart TVs, projectors and more.
The stock has been on an uptrend lately. With consensus price target at $64.41 a share, the stock doesn’t appear to be offering any bargain at $$69+ a share.
Costco Wholesale Corp (NASDAQ:COST): Cyber Monday deals will be offered on Monday, November 27, 2023. Costco’s advertisements indicate its Cyber Monday offers to include up to $1,500 off jewelry, up to $500 off on computers, $40 off a Little Giant Ladder and deals on LG TVs.
Costco’s stock trades between $591-$594. Consensus price target for the stock stands at $563.03 – no bargains on offer here it seems.
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