Amazon.com Inc. (AMZN) Trading Up 1.9% Following Analyst Upgrade
Amazon.com Inc. (NASDAQ:AMZN)’s share price was up 1.9% during trading on Tuesday after Maxim Group raised their price target on the stock from $825.00 to $940.00. Maxim Group currently has a buy rating on the stock. Amazon.com traded as high as $815.72 and last traded at $814.00, with a volume of 2,148,325 shares changing hands. The stock had previously closed at $799.16.
AMZN has been the topic of several other reports. Goldman Sachs Group Inc. restated a “buy” rating and issued a $920.00 price objective on shares of Amazon.com in a research report on Thursday, September 8th. Mizuho boosted their price objective on Amazon.com from $855.00 to $950.00 and gave the company a “buy” rating in a research report on Friday, September 23rd. Evercore ISI restated a “buy” rating and issued a $1,015.00 price objective (up from $930.00) on shares of Amazon.com in a research report on Friday, September 16th. Piper Jaffray Cos. restated an “overweight” rating and issued a $900.00 price objective on shares of Amazon.com in a research report on Wednesday, September 7th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $925.00 target price on shares of Amazon.com in a research report on Friday, September 9th. Six research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $881.13.
In other Amazon.com news, CEO Andrew R. Jassy sold 2,305 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $769.75, for a total transaction of $1,774,273.75. Following the transaction, the chief executive officer now directly owns 84,446 shares in the company, valued at $65,002,308.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 81,871,067 shares in the company, valued at $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 added to or reduced their stakes in the stock. Pathstone Family Office LLC raised 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 valued at $105,000 after buying an additional 70 shares in the last quarter. Kistler Tiffany Companies LLC raised 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 valued at $108,000 after buying an additional 136 shares in the last quarter. Kings Point Capital Management acquired a new stake in Amazon.com during the second quarter valued at approximately $109,000. Krilogy Financial LLC raised 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 valued at $142,000 after buying an additional 121 shares in the last quarter. Finally, West Oak Capital LLC raised 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 valued at $155,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 65.44% of the company’s stock.
The company’s 50 day moving average is $775.67 and its 200-day moving average is $705.65. The firm has a market cap of $392.87 billion, a price-to-earnings ratio of 206.10 and a beta of 1.11.
Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.67. The business had revenue of $30.40 billion for 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%. Amazon.com’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same period last year, the company posted $0.19 EPS. Equities research analysts predict that Amazon.com Inc. will post $5.81 EPS for the current fiscal year.
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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