Amazon.com Inc. (AMZN) PT Lowered to $960.00 at Citigroup Inc.
Amazon.com Inc. (NASDAQ:AMZN) had its target price reduced by analysts at Citigroup Inc. from $965.00 to $960.00 in a note issued to investors on Monday. The firm presently has a “buy” rating on the e-commerce giant’s stock. Citigroup Inc.’s price objective suggests a potential upside of 23.02% from the company’s current price.
A number of other brokerages have also commented on AMZN. Vetr raised Amazon.com from a “hold” rating to a “buy” rating and set a $880.16 price objective on the stock in a report on Thursday, October 6th. Zacks Investment Research raised Amazon.com from a “hold” rating to a “strong-buy” rating and set a $968.00 target price on the stock in a report on Friday, October 7th. Canaccord Genuity reaffirmed a “buy” rating and issued a $900.00 target price (up previously from $825.00) on shares of Amazon.com in a report on Monday, October 24th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $1,000.00 target price on shares of Amazon.com in a report on Monday, October 24th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $900.00 target price on shares of Amazon.com in a report on Tuesday, October 4th. Six investment analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the company. Amazon.com presently has a consensus rating of “Buy” and a consensus price target of $912.30.
Shares of Amazon.com (NASDAQ:AMZN) opened at 780.37 on Monday. The firm has a market capitalization of $370.81 billion, a price-to-earnings ratio of 178.78 and a beta of 1.51. The firm has a 50-day moving average price of $791.62 and a 200 day moving average price of $760.15. Amazon.com has a 12 month low of $474.00 and a 12 month high of $847.21.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 27th. The e-commerce giant reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.28. The company had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.69 billion. Amazon.com had a net margin of 1.64% and a return on equity of 13.47%. The business’s revenue was up 29.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS. On average, analysts anticipate that Amazon.com will post $4.78 EPS for the current fiscal year.
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In related news, 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 transaction, the chief executive officer now directly owns 68,141 shares in the company, valued at approximately $54,512,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMZN. Bartlett & Co. LLC raised its position in Amazon.com by 7.1% in the third quarter. Bartlett & Co. LLC now owns 120 shares of the e-commerce giant’s stock worth $100,000 after buying an additional 8 shares in the last quarter. Pathstone Family Office LLC raised its position in 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 in the last quarter. Kistler Tiffany Companies LLC raised its position in 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 in the last quarter. Kings Point Capital Management acquired a new position in Amazon.com during the second quarter worth $109,000. Finally, D. Scott Neal Inc. raised its position in Amazon.com by 3,000.0% in the third quarter. D. Scott Neal Inc. now owns 155 shares of the e-commerce giant’s stock worth $130,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 64.77% 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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