Amazon.com, Inc. (AMZN) Price Target Raised to $1,000.00
Amazon.com, Inc. (NASDAQ:AMZN) had its price target lifted by research analysts at Credit Suisse Group from $950.00 to $1,000.00 in a research note issued to investors on Wednesday. The brokerage currently has an “outperform” rating on the e-commerce giant’s stock. Credit Suisse Group’s target price suggests a potential upside of 22.90% from the stock’s previous close.
AMZN has been the topic of several other research reports. Wedbush set a $900.00 price objective on shares of Amazon.com and gave the stock a “buy” rating in a research note on Sunday, October 30th. Morningstar, Inc. reissued a “buy” rating on shares of Amazon.com in a research note on Thursday, December 1st. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Amazon.com in a research note on Thursday, January 5th. Cantor Fitzgerald reissued a “buy” rating on shares of Amazon.com in a research note on Wednesday, December 28th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Amazon.com in a research note on Thursday, September 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Amazon.com has a consensus rating of “Buy” and a consensus target price of $925.18.
Shares of Amazon.com (NASDAQ:AMZN) opened at 813.64 on Wednesday. The stock’s 50 day moving average is $769.18 and its 200 day moving average is $773.28. The stock has a market cap of $386.61 billion, a price-to-earnings ratio of 186.40 and a beta of 1.42. Amazon.com has a 52 week low of $474.00 and a 52 week high of $847.21.
Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 27th. The e-commerce giant reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.28. Amazon.com had a net margin of 1.64% and a return on equity of 13.47%. The company had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.69 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. Amazon.com’s quarterly revenue was up 29.0% compared to the same quarter last year. On average, equities analysts forecast that Amazon.com will post $4.76 EPS for the current year.
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In other news, CEO Jeffrey A. Wilke sold 4,890 shares of the stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $767.15, for a total value of $3,751,363.50. Following the completion of the sale, the chief executive officer now directly owns 58,139 shares of the company’s stock, valued at $44,601,333.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.70% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company purchased a new stake in Amazon.com during the third quarter valued at $1,224,285,000. Vanguard Group Inc. increased its stake in 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 valued at $17,028,804,000 after buying an additional 1,082,051 shares during the last quarter. Bank of Montreal Can purchased a new stake in Amazon.com during the second quarter valued at $341,933,000. Point72 Asset Management L.P. increased its stake in 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 valued at $477,047,000 after buying an additional 461,020 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in Amazon.com by 1,160.3% in the second quarter. Artisan Partners Limited Partnership now owns 438,613 shares of the e-commerce giant’s stock valued at $313,880,000 after buying an additional 403,811 shares during the last quarter. 64.47% of the stock is 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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