Piper Jaffray analyst Michael Olson says his firm's survey of 1,011 domestic internet users found that Amazon.com (AMZN) "penetration is still gradually increasing." Further, a second survey of 1,505 domestic internet users found that among top e-commerce platforms Amazon retains top share, with Facebook (FB) marketplace also showing good traction and Instagram "in relative shopping infancy," Olson tells investors in a research note. The analyst sees the surveys as a continued positive for Amazon. He believes the company has a large addressable remaining domestic total addressable market of low-use consumers. Holiday spending data would suggest Amazon accounts for only 5% of eMarketer's estimated $1.002 trillion of overall 2018 domestic retail holiday spend, adds the analyst. He reiterates an Overweight rating on Amazon shares with a $2,050 price target. Further, there are favorable takeaways for Facebook from the survey, as the company's e-commerce effort has shown promising early growth, says Olson.

Oppenheimer analyst Ittai Kidron lowered his price target for VMware (VMW) to $170 from $180 to account for its recent $11B dividend. The analyst notes that VMware is one of his top picks for 2019.given a growing number of near-term hybrid-cloud growth levers, early traction of VMC on AWS (AMZN) and its long-term value-creation potential, multiple product upsell opportunities, and the removal of the Dell Technologies (DVMT) overhang. He reiterates an Outperform rating on VMware shares.

JPMorgan analyst Doug Anmuth names Facebook (FB) a best idea for 2019 along with Amazon.com (AMZN) and Twitter (TWTR). Facebook experienced significant volatility in 2018 and closed the year down 2%, underperforming Internet peers which were up 7% market cap-weighted and flat on average, Anmuth tells investors in a research note partially titled "We Expect Facebook To Climb The Wall Of Worry." Privacy and data concerns, platform transitions, slowing growth, margin compression, regulation, and "extremely negative" press have all weighed on the stock in recent months, adds the analyst. He believes investor sentiment on Facebook "remains negative here" in early 2019. However, Anmuth thinks the core Facebook business is "stickier than many think." Further, he believes the company's revenue deceleration is manageable and its earnings growth should accelerate into the mid-teens in 2020. Lastly, the stock's valuation is "compelling" at current levels, argues Anmuth. He keeps an Overweight rating on Facebook with a $195 price target. The social media giant closed yesterday up 10c to $138.05.

KeyBanc analyst Evan Wingren said Roku's (ROKU) preliminary Q4 active account growth of 40% and streaming hours growth of 68% beat his expectations of up 35% and 50%, respectively. Separately, it announced a new OEM win with Westinghouse, which he said validates the company's competitive moat and highlights Roku's strong competitive position given this is an Amazon Fire TV (AMZN) customer. He maintains an Overweight rating and $59 price target on Roku shares.

Baird analyst Colin Sebastian said his quarterly survey of internet users shows response rates for Facebook engagement are stable/increasing for the third consecutive quarter following declines in early/mid August 2018. He also said Instagram engagement growth is now on par with Facebook among the younger cohort, which is a positive given Instagram's contributions to revenue growth. Sebastian reiterated his Outperform rating and $195 price target on Facebook shares.

JPMorgan analyst Doug Anmuth said he believes today's weakness in Twitter shares is overdone, noting that the company stepped up its platform health efforts in 3Q17 and that key marketing industry leaders from Unilever (UL) and Bank of America (BAC) have praised its efforts. He also believes marketers and agencies are "well aware" of the pros and cons of Twitter's open, public platform. The analyst, who thinks Twitter's platform health efforts will ultimately have a positive impact on engagement and advertising, also noted that Twitter's data licensing customers do not gain access to users' private Direct Messages and the company does not sell individual user data. Anmuth maintains an Overweight rating and $45 price target on Twitter and still considers the stock a top pick for 2019.