Amazon.com Inc. (NASDAQ:AMZN) had its price target upped by Morgan Stanley from $800.00 to $950.00 in a research report report published on Wednesday. They currently have an overweight rating on the e-commerce giant’s stock.
A number of other research analysts have also recently issued reports on the stock. Vetr raised shares of Amazon.com from a hold rating to a buy rating and set a $744.13 price target for the company in a report on Monday, June 20th. Pacific Crest reaffirmed a buy rating on shares of Amazon.com in a report on Thursday, June 16th. KeyCorp reaffirmed a buy rating on shares of Amazon.com in a report on Friday, June 17th. Raymond James Financial Inc. reaffirmed a buy rating and issued a $770.00 price target on shares of Amazon.com in a report on Wednesday, June 8th. Finally, Citigroup Inc. reaffirmed a buy rating and issued a $780.00 price target on shares of Amazon.com in a report on Tuesday, June 7th. Five investment analysts have rated the stock with a hold rating, forty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $891.31.
Amazon.com (NASDAQ:AMZN) opened at 839.43 on Wednesday. Amazon.com has a 1-year low of $474.00 and a 1-year high of $847.21. The company’s 50 day moving average is $789.64 and its 200-day moving average is $718.27. The stock has a market cap of $397.95 billion, a PE ratio of 208.76 and a beta of 1.19.
Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 EPS for the quarter, beating the Zacks’ 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 in the prior year, the company posted $0.19 earnings per share. Amazon.com’s revenue for the quarter was up 31.1% compared to the same quarter last year. Equities research analysts forecast that Amazon.com will post $5.85 earnings per share for the current fiscal year.
In other news, CEO Jeffrey P. Bezos sold 1,000,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $756.74, for a total transaction of $756,740,000.00. Following the transaction, the chief executive officer now directly owns 81,871,067 shares in the company, valued at approximately $61,955,111,241.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Shelley Reynolds sold 625 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $770.10, for a total transaction of $481,312.50. Following the transaction, the vice president now owns 6,519 shares in the company, valued at $5,020,281.90. The disclosure for this sale can be found here. Insiders own 17.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Amazon.com by 4.8% in the second quarter. Vanguard Group Inc. now owns 23,795,875 shares of the e-commerce giant’s stock valued at $17,028,804,000 after buying an additional 1,082,051 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in Amazon.com during the second quarter valued at approximately $479,380,000. Societe Generale acquired a new position in Amazon.com during the second quarter valued at approximately $391,842,000. Bank of Montreal Can acquired a new position in Amazon.com during the second quarter valued at approximately $341,933,000. Finally, Point72 Asset Management L.P. raised its position in Amazon.com by 224.2% in the second quarter. Point72 Asset Management L.P. now owns 666,620 shares of the e-commerce giant’s stock valued at $477,047,000 after buying an additional 461,020 shares during the last quarter. Institutional investors and hedge funds own 65.44% of the company’s stock.
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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