Amazon.com Inc. (AMZN) Given Overweight Rating at Pacific Crest
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “overweight” rating restated by analysts at Pacific Crest in a report issued on Thursday.
Other equities analysts also recently issued research reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Amazon.com in a report on Monday, June 27th. Wedbush reissued an “outperform” rating and set a $900.00 price target on shares of Amazon.com in a report on Friday, September 30th. Piper Jaffray Cos. reissued a “buy” rating and set a $800.00 price target on shares of Amazon.com in a report on Sunday, July 31st. Bank of America Corp. reaffirmed a “buy” rating and issued a $840.00 price objective on shares of Amazon.com in a report on Sunday, July 17th. Finally, MKM Partners upped their price objective on shares of Amazon.com from $850.00 to $995.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Five investment 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 a consensus target price of $891.31.
Amazon.com (NASDAQ:AMZN) traded down 1.4328% during trading on Thursday, reaching $822.1388. 1,350,175 shares of the company were exchanged. Amazon.com has a 12 month low of $474.00 and a 12 month high of $847.21. The stock has a 50 day moving average price of $796.14 and a 200 day moving average price of $723.94. The firm has a market capitalization of $389.75 billion, a PE ratio of 204.4613 and a beta of 1.20.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.67. The firm earned $30.40 billion during the quarter, compared to the consensus estimate of $29.54 billion. Amazon.com had a net margin of 1.60% and a return on equity of 13.52%. The firm’s revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, analysts expect that Amazon.com will post $5.85 EPS for the current fiscal year.
In related news, CEO Jeffrey P. Bezos sold 1,000,000 shares of Amazon.com stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $756.74, for a total value of $756,740,000.00. Following the sale, the chief executive officer now owns 81,871,067 shares of the company’s stock, valued at approximately $61,955,111,241.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 14,000 shares of Amazon.com stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $800.00, for a total value of $11,200,000.00. Following the completion of the sale, the chief executive officer now directly owns 68,141 shares in the company, valued at approximately $54,512,800. The disclosure for this sale can be found here. 17.70% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Amazon.com by 4.8% in the second quarter. Vanguard Group Inc. now owns 23,795,875 shares of the e-commerce giant’s stock worth $17,028,804,000 after buying an additional 1,082,051 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Amazon.com during the second quarter worth about $479,380,000. Societe Generale purchased a new stake in shares of Amazon.com during the second quarter worth about $391,842,000. Bank of Montreal Can purchased a new stake in shares of Amazon.com during the second quarter worth about $341,933,000. Finally, Point72 Asset Management L.P. raised its stake in shares of Amazon.com by 224.2% in the second quarter. Point72 Asset Management L.P. now owns 666,620 shares of the e-commerce giant’s stock worth $477,047,000 after buying an additional 461,020 shares in the last quarter. 65.44% of the stock is currently owned by institutional investors and hedge funds.
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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