Amazon.com Inc. (AMZN) Upgraded to Strong-Buy at Zacks Investment Research
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 brokerage presently has a $968.00 price objective on the e-commerce giant’s stock. Zacks Investment Research’s price target would indicate a potential upside of 15.01% from the company’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.”
AMZN has been the subject of several other reports. Goldman Sachs Group Inc. restated a “buy” rating and issued a $920.00 target price on shares of Amazon.com in a research note on Thursday, September 8th. Mizuho raised their target price on Amazon.com from $855.00 to $950.00 and gave the company a “buy” rating in a research note on Friday, September 23rd. Evercore ISI restated a “buy” rating and issued a $1,015.00 target price (up from $930.00) on shares of Amazon.com in a research note on Friday, September 16th. Piper Jaffray Cos. restated an “overweight” rating and issued a $900.00 target price on shares of Amazon.com in a research note on Wednesday, September 7th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $925.00 target price on shares of Amazon.com in a research note on Friday, September 9th. Five investment analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $891.31.
Shares of Amazon.com (NASDAQ:AMZN) opened at 841.66 on Friday. The company has a market cap of $399.01 billion, a price-to-earnings ratio of 209.32 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 firm has a 50-day moving average price of $787.49 and a 200 day moving average price of $716.23.
Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.67. The company earned $30.40 billion during the quarter, compared to the consensus estimate of $29.54 billion. Amazon.com had a return on equity of 13.52% and a net margin of 1.60%. The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period last year, the business posted $0.19 EPS. On average, analysts predict that Amazon.com will post $5.85 EPS for the current fiscal year.
In other news, insider Jeffrey M. Blackburn sold 10,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $760.98, for a total value of $7,609,800.00. Following the completion of the sale, the insider now directly owns 55,887 shares in the company, valued at $42,528,889.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Shelley Reynolds sold 625 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $770.10, for a total transaction of $481,312.50. Following the completion of the sale, the vice president now owns 6,519 shares of the company’s stock, valued at $5,020,281.90. The disclosure for this sale can be found here. Company insiders own 17.70% of the company’s stock.
Large investors have recently modified their holdings of the stock. Pathstone Family Office LLC boosted its stake 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 during the period. Kistler Tiffany Companies LLC boosted its stake 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 during the period. Kings Point Capital Management acquired a new stake in shares of Amazon.com during the second quarter worth approximately $109,000. Krilogy Financial LLC boosted its stake 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 during the period. Finally, West Oak Capital LLC boosted its stake 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 during the period. Institutional investors and hedge funds 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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