Saw this report from Barrons and wanted to share it with you:

Amazon.com (AMZN) could be responsible for close to a third of all U.S. e-commerce transactions, RBC Capital analyst Stephen Ju asserted in a research note this morning.

Ju notes that Amazon’s reported revenues consist of a mix of gross revenues from its own businesses plus net third-party commissions. To date, he notes, Amazon has not given a break down of the two numbers, other than as a percentage of units shipped. The question, he says, is how much third-party gross merchandise value is flowing through Amazon’s platform - and what slice of all e-commerce Amazon is actually facilitating.

Performing a “gross-up” analysis, he concludes that “AMZN may be facilitating close to a third of all e-commerce in the U.S.,” and that it continues to gain share here. He also sees opportunity for further gains in international online retailing.

Actually, Ju’s data suggests the total slice of U.S. e-commerce through Amazon was about 34% in Q4, up from 27% a year earlier.

Ju this morning repeated his Outperform rating on the stock, and upped his price target to $84, from $72. He also upped his 2009 EPS estimate to $2.13, from $1.99.

In early trading, AMZN is down 82 cents, at $78.12.

This is good news for a market that has been mainly dominated by eBay, although I wouldn’t count eBay out just yet.

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