Amazon.com Inc. (AMZN) Price Target Increased to $850.00 by Analysts at SunTrust Banks Inc.
Amazon.com Inc. (NASDAQ:AMZN) had its price target raised by SunTrust Banks Inc. from $800.00 to $850.00 in a research note released on Wednesday. They currently have a neutral rating on the e-commerce giant’s stock.
Several other research analysts have also recently issued reports on AMZN. Oppenheimer Holdings Inc. increased their price objective on shares of Amazon.com from $780.00 to $930.00 and gave the company a buy rating in a report on Tuesday, June 7th. Citigroup Inc. restated a buy rating and set a $780.00 target price on shares of Amazon.com in a report on Tuesday, June 7th. Raymond James Financial Inc. restated a buy rating and set a $770.00 target price on shares of Amazon.com in a report on Wednesday, June 8th. Vetr upgraded shares of Amazon.com from a sell rating to a hold rating and set a $713.45 target price for the company in a report on Thursday, June 9th. Finally, William Blair initiated coverage on shares of Amazon.com in a report on Friday, June 10th. They set an outperform rating for the company. Seven analysts have rated the stock with a hold rating and forty-five have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $889.55.
Shares of Amazon.com (NASDAQ:AMZN) traded down 0.04% on Wednesday, reaching $843.99. The company’s stock had a trading volume of 1,041,518 shares. The stock has a market capitalization of $400.11 billion, a PE ratio of 209.90 and a beta of 1.20. Amazon.com has a 1-year low of $474.00 and a 1-year high of $847.21. The stock has a 50-day moving average of $785.29 and a 200 day moving average of $715.33.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share (EPS) for the quarter, beating the 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 business’s revenue was up 31.1% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. On average, equities analysts forecast that Amazon.com will post $5.82 EPS for the current year.
In other news, 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 transaction of $11,200,000.00. Following the completion of the sale, the chief executive officer now owns 68,141 shares of the company’s stock, valued at approximately $54,512,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey M. Blackburn sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $760.98, for a total transaction of $7,609,800.00. Following the sale, the insider now directly owns 55,887 shares of the company’s stock, valued at approximately $42,528,889.26. The disclosure for this sale can be found here. Company insiders own 17.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. LPL Financial LLC increased its stake in shares of 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 during the period. Acadian Asset Management LLC increased its stake in shares of 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 during the period. Prudential PLC increased its stake in shares of 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 during the period. Suvretta Capital Management LLC bought a new stake in shares of Amazon.com during the first quarter valued at approximately $147,407,000. Finally, British Columbia Investment Management Corp increased its stake in shares of 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 during the period. 65.44% of the stock is 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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