Amazon.com Inc. (NASDAQ:AMZN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Amazon is one of the largest online retailers in the world. 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.”
AMZN has been the subject of a number of other research reports. Pacific Crest reiterated a “buy” rating on shares of Amazon.com in a report on Thursday, June 16th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Amazon.com in a report on Monday, June 13th. Raymond James Financial Inc. reiterated a “buy” rating and issued a $770.00 price target on shares of Amazon.com in a report on Wednesday, June 8th. Oppenheimer Holdings Inc. increased their price target on shares of Amazon.com from $780.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, June 7th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $780.00 price target on shares of Amazon.com in a report on Tuesday, June 7th. Seven research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $885.11.
Amazon.com (NASDAQ:AMZN) opened at 837.31 on Monday. The firm has a 50-day moving average of $779.29 and a 200 day moving average of $708.41. Amazon.com has a 12-month low of $474.00 and a 12-month high of $839.95. The firm has a market capitalization of $396.95 billion, a price-to-earnings ratio of 208.23 and a beta of 1.19.
Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.67. Amazon.com had a net margin of 1.60% and a return on equity of 13.52%. The company earned $30.40 billion during the quarter, compared to analysts’ expectations of $29.54 billion. During the same quarter last year, the business earned $0.19 EPS. The business’s revenue was up 31.1% on a year-over-year basis. On average, equities analysts predict that Amazon.com will post $5.82 EPS for the current year.
In other Amazon.com news, insider Jeffrey M. Blackburn sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $760.98, for a total transaction of $7,609,800.00. Following the sale, the insider now owns 55,887 shares in the company, valued at approximately $42,528,889.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $756.74, for a total value 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. Company insiders own 17.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Sanders Morris Harris Inc. bought a new stake in Amazon.com during the first quarter valued at about $363,000. Sii Investments Inc. WI increased its stake in Amazon.com by 65.4% in the first quarter. Sii Investments Inc. WI now owns 2,709 shares of the e-commerce giant’s stock valued at $1,610,000 after buying an additional 1,071 shares during the last quarter. Malaga Cove Capital LLC bought a new stake in Amazon.com during the first quarter valued at about $766,000. Glenmede Trust Co. NA increased its stake in Amazon.com by 2.4% in the first quarter. Glenmede Trust Co. NA now owns 9,728 shares of the e-commerce giant’s stock valued at $5,774,000 after buying an additional 227 shares during the last quarter. Finally, RKL Wealth Management LLC increased its stake in Amazon.com by 23.4% in the first quarter. RKL Wealth Management LLC now owns 7,111 shares of the e-commerce giant’s stock valued at $4,221,000 after buying an additional 1,348 shares during the last quarter. Hedge funds and other 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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