Cowen and Company Reaffirms “Outperform” Rating for Amazon.com Inc. (AMZN)
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “outperform” rating reiterated by analysts at Cowen and Company in a report released on Wednesday. They currently have a $960.00 target price on the e-commerce giant’s stock. Cowen and Company’s price target would indicate a potential upside of 15.10% from the company’s current price.
A number of other equities research analysts have also issued reports on the stock. KeyCorp reissued an “overweight” rating and set a $847.00 target price on shares of Amazon.com in a research note on Wednesday. Deutsche Bank AG reissued a “buy” rating and set a $985.00 target price on shares of Amazon.com in a research note on Wednesday. Robert W. Baird reissued an “outperform” rating and set a $850.00 target price on shares of Amazon.com in a research note on Wednesday. Cantor Fitzgerald reissued a “buy” rating on shares of Amazon.com in a research note on Wednesday. Finally, Zacks Investment Research raised shares of Amazon.com from a “hold” rating to a “strong-buy” rating and set a $968.00 target price for the company in a research note on Friday, October 7th. Five equities research analysts have rated the stock with a hold rating, forty-six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $891.31.
Shares of Amazon.com (NASDAQ:AMZN) traded up 0.37% during mid-day trading on Wednesday, reaching $834.09. The company had a trading volume of 2,380,004 shares. The company’s 50-day moving average is $794.09 and its 200 day moving average is $723.14. Amazon.com has a 52-week low of $474.00 and a 52-week high of $847.21. The stock has a market capitalization of $395.42 billion, a P/E ratio of 207.43 and a beta of 1.20.
Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.67. The company earned $30.40 billion during the quarter, compared to analyst estimates of $29.54 billion. Amazon.com had a net margin of 1.60% and a return on equity of 13.52%. The company’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. Analysts anticipate that Amazon.com will post $5.85 EPS for the current fiscal year.
In other Amazon.com news, insider Jeffrey M. Blackburn sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 55,887 shares of the company’s stock, valued at $42,528,889.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the company’s 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 sale, 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. Company insiders own 17.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Hollencrest Securities LLC increased its stake in Amazon.com by 84.3% in the third quarter. Hollencrest Securities LLC now owns 14,219 shares of the e-commerce giant’s stock valued at $11,906,000 after buying an additional 6,502 shares during the period. Canandaigua National Bank & Trust Co. bought a new stake in shares of Amazon.com during the third quarter valued at $230,000. Prospera Financial Services Inc boosted its stake in shares of Amazon.com by 5.1% in the third quarter. Prospera Financial Services Inc now owns 2,797 shares of the e-commerce giant’s stock valued at $2,342,000 after buying an additional 135 shares in the last quarter. Osborn Rohs Williams & Donohoe Ltd boosted its stake in shares of Amazon.com by 2.9% in the third quarter. Osborn Rohs Williams & Donohoe Ltd now owns 895 shares of the e-commerce giant’s stock valued at $749,000 after buying an additional 25 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Amazon.com by 2.0% in the third quarter. Nisa Investment Advisors LLC now owns 106,095 shares of the e-commerce giant’s stock valued at $88,833,000 after buying an additional 2,115 shares in the last quarter. 65.44% of the stock is currently owned by institutional investors and hedge funds.
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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