Amazon.com Inc. (AMZN) Given New $950.00 Price Target at Morgan Stanley
Amazon.com Inc. (NASDAQ:AMZN) had its price target hoisted by equities researchers at Morgan Stanley from $800.00 to $950.00 in a report issued on Wednesday. The brokerage presently has an “overweight” rating on the e-commerce giant’s stock. Morgan Stanley’s price objective would indicate a potential upside of 13.90% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the stock. Canaccord Genuity reiterated a “buy” rating and set a $825.00 price objective on shares of Amazon.com in a research report on Tuesday. Piper Jaffray Cos. reiterated a “positive” rating on shares of Amazon.com in a research report on Tuesday. Zacks Investment Research cut shares of Amazon.com from a “buy” rating to a “hold” rating in a research report on Monday. Wedbush reiterated an “outperform” rating on shares of Amazon.com in a research report on Friday, September 30th. Finally, JMP Securities upped their price objective on shares of Amazon.com from $840.00 to $950.00 and gave the stock a “buy” rating in a research report on Friday, September 30th. Seven analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company’s stock. Amazon.com presently has a consensus rating of “Buy” and an average price target of $888.44.
Amazon.com (NASDAQ:AMZN) opened at 834.03 on Wednesday. The company has a market capitalization of $395.39 billion, a PE ratio of 207.42 and a beta of 1.20. The firm has a 50-day moving average of $783.00 and a 200-day moving average of $714.39. Amazon.com has a 52 week low of $474.00 and a 52 week high of $842.37.
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 Zacks’ consensus estimate of $1.11 by $0.67. The business earned $30.40 billion during the quarter, compared to analysts’ expectations of $29.54 billion. Amazon.com had a net margin of 1.60% and a return on equity of 13.52%. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS. Equities analysts expect that Amazon.com will post $5.82 earnings per share for the current fiscal year.
In other Amazon.com 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 completion of the transaction, the chief executive officer now owns 81,871,067 shares in the company, valued at $61,955,111,241.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 14,000 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $800.00, for a total transaction of $11,200,000.00. Following the transaction, the chief executive officer now owns 68,141 shares of the company’s stock, valued at approximately $54,512,800. The disclosure for this sale can be found here. Corporate insiders own 17.70% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Pathstone Family Office LLC raised its position in shares of Amazon.com by 92.1% in the second quarter. Pathstone Family Office LLC now owns 146 shares of the e-commerce giant’s stock worth $105,000 after buying an additional 70 shares in the last quarter. Kistler Tiffany Companies LLC raised its position in shares of Amazon.com by 906.7% in the second quarter. Kistler Tiffany Companies LLC now owns 151 shares of the e-commerce giant’s stock worth $108,000 after buying an additional 136 shares in the last quarter. Kings Point Capital Management acquired a new position in shares of Amazon.com during the second quarter worth $109,000. Krilogy Financial LLC raised its position in shares of Amazon.com by 157.1% in the second quarter. Krilogy Financial LLC now owns 198 shares of the e-commerce giant’s stock worth $142,000 after buying an additional 121 shares in the last quarter. Finally, West Oak Capital LLC raised its position in shares of Amazon.com by 105.7% in the second quarter. West Oak Capital LLC now owns 216 shares of the e-commerce giant’s stock worth $155,000 after buying an additional 111 shares in 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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