Amazon.com Inc. (NASDAQ:AMZN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $914.00 target price on the e-commerce giant’s stock. Zacks Investment Research’s price target would indicate a potential upside of 10.25% from the company’s current price.
According to Zacks, “Amazon is one of the largest online retailers in the world. The company reported better-than-expected second quarter results surpassing our estimates on revenues and earnings. Amazon is driving value across all its businesses and especially the retail business remains very hard to beat on price, choice and convenience. The company has a solid loyalty system in Prime and its FBA strategy, and content addition continues to add selection to Prime memberships. The AWS generates much higher margins than retail, so it has a very positive impact on Amazon’s profitability. Devices and IoT is also a potential growth area. However, Prime saturation in the U.S. market and competition in online retail remains concern.”
Several other research firms have also recently weighed in on AMZN. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Amazon.com in a research report on Wednesday. Nomura reiterated a “buy” rating and set a $950.00 price objective on shares of Amazon.com in a research report on Wednesday. Mizuho increased their price objective on shares of Amazon.com from $855.00 to $950.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. Cowen and Company reiterated an “outperform” rating and set a $960.00 price objective (up from $900.00) on shares of Amazon.com in a research report on Monday. Finally, BMO Capital Markets reiterated a “buy” rating and set a $900.00 price objective (up from $875.00) on shares of Amazon.com in a research report on Thursday, September 22nd. Six research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company’s stock. Amazon.com currently has an average rating of “Buy” and an average price target of $881.13.
Shares of Amazon.com (NASDAQ:AMZN) opened at 829.05 on Wednesday. The firm’s 50-day moving average is $777.40 and its 200 day moving average is $706.53. The company has a market capitalization of $393.03 billion, a PE ratio of 206.18 and a beta of 1.11. Amazon.com has a 12 month low of $474.00 and a 12 month high of $837.50.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.67. The firm earned $30.40 billion during the quarter, compared to the consensus estimate of $29.54 billion. Amazon.com had a net margin of 1.60% and a return on equity of 13.52%. The company’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 earnings per share. Equities research analysts predict that Amazon.com will post $5.82 EPS for the current year.
In other Amazon.com news, VP Shelley Reynolds sold 625 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $770.10, for a total transaction of $481,312.50. Following the sale, the vice president now owns 6,519 shares in the company, valued at approximately $5,020,281.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $756.74, for a total transaction of $756,740,000.00. Following the sale, the chief executive officer now owns 81,871,067 shares in the company, valued at approximately $61,955,111,241.58. The disclosure for this sale can be found here. 17.70% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in AMZN. Pathstone Family Office LLC boosted its stake in Amazon.com by 92.1% in the second quarter. Pathstone Family Office LLC now owns 146 shares of the e-commerce giant’s stock worth $105,000 after buying an additional 70 shares during the last quarter. Kistler Tiffany Companies LLC boosted its stake in Amazon.com by 906.7% in the second quarter. Kistler Tiffany Companies LLC now owns 151 shares of the e-commerce giant’s stock worth $108,000 after buying an additional 136 shares during the last quarter. Kings Point Capital Management purchased a new stake in Amazon.com during the second quarter worth approximately $109,000. Krilogy Financial LLC boosted its stake in Amazon.com by 157.1% in the second quarter. Krilogy Financial LLC now owns 198 shares of the e-commerce giant’s stock worth $142,000 after buying an additional 121 shares during the last quarter. Finally, West Oak Capital LLC boosted its stake in Amazon.com by 105.7% in the second quarter. West Oak Capital LLC now owns 216 shares of the e-commerce giant’s stock worth $155,000 after buying an additional 111 shares during the last quarter. Institutional investors own 65.44% of the company’s stock.
Amazon.com Company Profile
Amazon.com, Inc offers a range of products and services through its Websites. The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. The Company has three segments: North America, International and Amazon Web Services (AWS).
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