Amazon.com Inc. (NASDAQ:AMZN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Friday. The firm presently has a $968.00 target price on the e-commerce giant’s stock. Zacks Investment Research’s price objective would indicate a potential upside of 15.00% from the stock’s current price.
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.”
Several other equities research analysts have also recently issued reports on the stock. Bank of America Corp. restated a “buy” rating and set a $860.00 price objective on shares of Amazon.com in a research report on Monday, August 15th. KeyCorp reiterated an “overweight” rating and set a $847.00 price target on shares of Amazon.com in a research report on Sunday, August 21st. JPMorgan Chase & Co. set a $908.00 price target on shares of Amazon.com and gave the company a “buy” rating in a research report on Tuesday, July 12th. Piper Jaffray Cos. reiterated a “buy” rating and set a $800.00 price target on shares of Amazon.com in a research report on Friday, July 8th. Finally, Cowen and Company reiterated an “outperform” rating and set a $960.00 price target (up from $900.00) on shares of Amazon.com in a research report on Monday, September 26th. Five equities research analysts have rated the stock with a hold rating, forty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $891.31.
Amazon.com (NASDAQ:AMZN) opened at 841.71 on Friday. 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 $792.05 and its 200 day moving average is $722.36. The company has a market cap of $399.03 billion, a price-to-earnings ratio of 209.33 and a beta of 1.19.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share (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 firm earned $30.40 billion during the quarter, compared to analysts’ expectations of $29.54 billion. During the same period last year, the business earned $0.19 earnings per share. Amazon.com’s revenue was up 31.1% compared to the same quarter last year. Equities research analysts forecast that Amazon.com will post $5.85 EPS for the current year.
In related news, 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 value of $756,740,000.00. Following the transaction, the chief executive officer now directly owns 81,871,067 shares of the company’s stock, valued at approximately $61,955,111,241.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $800.00, for a total value 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 owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Telemus Capital LLC bought a new position in shares of Amazon.com during the first quarter worth $6,302,000. Commonwealth Equity Services Inc increased its position in shares of Amazon.com by 18.0% in the first quarter. Commonwealth Equity Services Inc now owns 46,352 shares of the e-commerce giant’s stock valued at $27,516,000 after buying an additional 7,063 shares in the last quarter. Sarasin & Partners LLP increased its position in shares of Amazon.com by 2.0% in the first quarter. Sarasin & Partners LLP now owns 385,407 shares of the e-commerce giant’s stock valued at $228,793,000 after buying an additional 7,460 shares in the last quarter. Aperio Group LLC increased its position in shares of Amazon.com by 3.4% in the first quarter. Aperio Group LLC now owns 155,148 shares of the e-commerce giant’s stock valued at $92,102,000 after buying an additional 5,152 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. acquired a new position in shares of Amazon.com during the first quarter valued at approximately $5,203,000. 65.44% of the stock is currently owned by institutional investors and hedge funds.
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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