Amazon.com Inc. (AMZN) Earns Overweight Rating from Piper Jaffray Cos.
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “overweight” rating reissued by research analysts at Piper Jaffray Cos. in a research report issued to clients and investors on Tuesday. They currently have a $900.00 price objective on the e-commerce giant’s stock. Piper Jaffray Cos.’s price objective points to a potential upside of 7.91% from the stock’s current price.
AMZN has been the topic of several other research reports. Jefferies Group restated a “buy” rating and set a $865.00 price objective on shares of Amazon.com in a research note on Monday, June 27th. Zacks Investment Research upgraded Amazon.com from a “hold” rating to a “buy” rating and set a $774.00 price objective on the stock in a research note on Tuesday, June 28th. Royal Bank Of Canada cut their price objective on Amazon.com from $1,000.00 to $840.00 and set an “outperform” rating on the stock in a research note on Friday, September 16th. William Blair assumed coverage on Amazon.com in a report on Friday, June 10th. They set an “outperform” rating for the company. Finally, Evercore ISI reaffirmed a “buy” rating on shares of Amazon.com in a report on Monday, July 18th. Seven investment analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company. Amazon.com currently has a consensus rating of “Buy” and an average price target of $889.55.
Amazon.com (NASDAQ:AMZN) traded up 0.579% during mid-day trading on Tuesday, hitting $838.858. The stock had a trading volume of 981,928 shares. The company has a 50-day moving average of $783.00 and a 200-day moving average of $714.39. The stock has a market cap of $397.68 billion, a price-to-earnings ratio of 208.619 and a beta of 1.20. Amazon.com has a 12-month low of $474.00 and a 12-month high of $842.37.
Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $30.40 billion for the quarter, compared to analysts’ expectations of $29.54 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Amazon.com’s revenue for the quarter was up 31.1% compared to the same quarter last year. On average, analysts anticipate that Amazon.com will post $5.82 earnings per share for the current fiscal year.
In other news, insider Jeffrey M. Blackburn sold 10,000 shares of Amazon.com stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $760.98, for a total transaction of $7,609,800.00. Following the transaction, the insider now directly owns 55,887 shares of the company’s stock, valued at $42,528,889.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of Amazon.com stock in a transaction on 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 directly owns 81,871,067 shares in the company, valued at $61,955,111,241.58. The disclosure for this sale can be found here. Insiders own 17.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. LPL Financial LLC boosted its stake in Amazon.com by 24.5% in the first quarter. LPL Financial LLC now owns 105,035 shares of the e-commerce giant’s stock valued at $61,567,000 after buying an additional 20,700 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Amazon.com by 9.0% in the second quarter. Acadian Asset Management LLC now owns 117,216 shares of the e-commerce giant’s stock valued at $83,882,000 after buying an additional 9,640 shares in the last quarter. Prudential PLC boosted its stake in Amazon.com by 5.7% in the first quarter. Prudential PLC now owns 105,738 shares of the e-commerce giant’s stock valued at $62,771,000 after buying an additional 5,657 shares in the last quarter. Suvretta Capital Management LLC bought a new stake in Amazon.com during the first quarter valued at approximately $147,407,000. Finally, British Columbia Investment Management Corp boosted its stake in Amazon.com by 1.3% in the second quarter. British Columbia Investment Management Corp now owns 204,723 shares of the e-commerce giant’s stock valued at $146,504,000 after buying an additional 2,602 shares in the last quarter. 65.44% of the stock is currently owned by institutional investors.
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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