Credit Suisse Group AG Reiterates “Outperform” Rating for Amazon.com Inc. (AMZN)
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “outperform” rating reissued by investment analysts at Credit Suisse Group AG in a note issued to investors on Monday. They currently have a $1,050.00 target price on the e-commerce giant’s stock, up from their prior target price of $920.00. Credit Suisse Group AG’s price target indicates a potential upside of 28.42% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the stock. JMP Securities reaffirmed a “buy” rating and issued a $775.00 price objective on shares of Amazon.com in a research note on Saturday, July 9th. Deutsche Bank AG reiterated a “buy” rating and issued a $900.00 target price on shares of Amazon.com in a report on Sunday, July 10th. Bank of America Corp. reiterated a “buy” rating and issued a $840.00 target price on shares of Amazon.com in a report on Sunday, July 17th. RBC Capital Markets set a $840.00 target price on shares of Amazon.com and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Vetr upgraded shares of Amazon.com from a “hold” rating to a “buy” rating and set a $744.13 target price for the company in a report on Monday, June 20th. 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 company presently has an average rating of “Buy” and an average target price of $897.87.
Amazon.com (NASDAQ:AMZN) opened at 817.65 on Monday. The company’s 50-day moving average is $802.60 and its 200 day moving average is $731.43. The firm has a market cap of $387.63 billion, a price-to-earnings ratio of 203.34 and a beta of 1.20. Amazon.com has a 12 month low of $474.00 and a 12 month high of $847.21.
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, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.67. The company had revenue of $30.40 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. On average, equities research analysts predict that Amazon.com will post $5.85 earnings per share for the current year.
In related news, CEO Andrew R. Jassy sold 2,305 shares of Amazon.com stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $769.75, for a total value of $1,774,273.75. Following the transaction, the chief executive officer now directly owns 84,446 shares of the company’s stock, valued at $65,002,308.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew R. Jassy sold 14,000 shares of Amazon.com stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $800.00, for a total value of $11,200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 68,141 shares in the company, valued at $54,512,800. The disclosure for this sale can be found here. Insiders own 17.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. First Citizens Bank & Trust Co. raised its position in Amazon.com by 51.4% in the second quarter. First Citizens Bank & Trust Co. now owns 14,927 shares of the e-commerce giant’s stock worth $10,682,000 after buying an additional 5,068 shares in the last quarter. LPL Financial LLC raised its position 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 worth $61,567,000 after buying an additional 20,700 shares in the last quarter. Acadian Asset Management LLC raised its position 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 worth $83,882,000 after buying an additional 9,640 shares in the last quarter. Prudential PLC raised its position in Amazon.com by 5.7% in the first quarter. Prudential PLC now owns 105,738 shares of the e-commerce giant’s stock worth $62,771,000 after buying an additional 5,657 shares in the last quarter. Finally, Suvretta Capital Management LLC bought a new position in Amazon.com during the first quarter worth approximately $147,407,000. 65.47% 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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