Zacks Investment Research upgraded shares of Amazon.com Inc. (NASDAQ:AMZN) from a hold rating to a strong-buy rating in a research report sent to investors on Friday. They currently have $968.00 price target on the e-commerce giant’s stock.
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.”
Other equities research analysts have also issued research reports about the company. JMP Securities reiterated a buy rating and issued a $775.00 price target on shares of Amazon.com in a research note on Saturday, July 9th. Deutsche Bank AG reiterated a buy rating and issued a $900.00 price target on shares of Amazon.com in a research note on Sunday, July 10th. Bank of America Corp. reiterated a buy rating and issued a $840.00 price target on shares of Amazon.com in a research note on Sunday, July 17th. RBC Capital Markets set a $840.00 price target on Amazon.com and gave the stock a buy rating in a research note on Friday, July 29th. Finally, Vetr upgraded Amazon.com from a hold rating to a buy rating and set a $744.13 price target for the company in a research note on Monday, June 20th. Five investment analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $891.31.
Shares of Amazon.com (NASDAQ:AMZN) opened at 831.00 on Friday. Amazon.com has a 1-year low of $474.00 and a 1-year high of $847.21. The company has a market cap of $393.95 billion, a price-to-earnings ratio of 206.67 and a beta of 1.20. The stock has a 50 day moving average price of $794.09 and a 200-day moving average price of $723.14.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.67. Amazon.com had a return on equity of 13.52% and a net margin of 1.60%. The business earned $30.40 billion during the quarter, compared to analyst estimates of $29.54 billion. During the same quarter in the prior year, the business posted $0.19 EPS. 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 year.
In related news, CEO Andrew R. Jassy sold 2,305 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $769.75, for a total value of $1,774,273.75. Following the transaction, the chief executive officer now directly owns 84,446 shares of the company’s stock, valued at approximately $65,002,308.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew R. Jassy sold 14,000 shares of the stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $800.00, for a total transaction of $11,200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 68,141 shares in the company, valued at $54,512,800. The disclosure for this sale can be found here. 17.70% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AMZN. Middleton & Co Inc MA increased its position in Amazon.com by 7.2% in the first quarter. Middleton & Co Inc MA now owns 21,474 shares of the e-commerce giant’s stock worth $12,748,000 after buying an additional 1,436 shares during the period. Lakeview Capital Partners LLC increased its position in Amazon.com by 25.3% in the first quarter. Lakeview Capital Partners LLC now owns 599 shares of the e-commerce giant’s stock worth $356,000 after buying an additional 121 shares during the period. Hyman Charles D bought a new position in Amazon.com during the first quarter worth approximately $299,000. Badgley Phelps & Bell Inc. increased its position in Amazon.com by 1.5% in the first quarter. Badgley Phelps & Bell Inc. now owns 26,604 shares of the e-commerce giant’s stock worth $15,793,000 after buying an additional 398 shares during the period. Finally, Tiemann Investment Advisors LLC increased its position in Amazon.com by 8.4% in the first quarter. Tiemann Investment Advisors LLC now owns 1,029 shares of the e-commerce giant’s stock worth $611,000 after buying an additional 80 shares during the period. 65.44% of the stock is currently owned by hedge funds and other institutional investors.
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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