Credit Suisse Group AG Reiterates “Outperform” Rating for Amazon.com, Inc. (AMZN)
Credit Suisse Group AG reiterated their outperform rating on shares of Amazon.com, Inc. (NASDAQ:AMZN) in a report published on Monday morning. They currently have a $1,050.00 price objective on the e-commerce giant’s stock, up from their prior price objective of $900.00.
Other research analysts have also issued research reports about the stock. Instinet cut their price target on shares of Amazon.com to $925.00 in a report on Friday, February 3rd. TheStreet upgraded shares of Amazon.com from a c+ rating to a b- rating in a report on Wednesday, February 8th. Royal Bank of Canada restated a buy rating and issued a $950.00 price target on shares of Amazon.com in a report on Tuesday, January 3rd. Canaccord Genuity restated a buy rating and issued a $875.00 price target on shares of Amazon.com in a report on Tuesday, January 3rd. Finally, Goldman Sachs Group Inc restated a buy rating and issued a $1,010.00 price target on shares of Amazon.com in a report on Thursday, December 29th. Five research analysts have rated the stock with a hold rating and forty-eight have given a buy rating to the stock. Amazon.com presently has an average rating of Buy and an average target price of $961.29.
Shares of Amazon.com (NASDAQ:AMZN) opened at 902.06 on Monday. The stock has a market capitalization of $430.44 billion, a P/E ratio of 184.09 and a beta of 1.40. Amazon.com has a 1-year low of $599.20 and a 1-year high of $923.72. The stock has a 50 day moving average of $871.22 and a 200-day moving average of $817.02.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, February 2nd. The e-commerce giant reported $1.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.19. Amazon.com had a net margin of 1.74% and a return on equity of 13.87%. The firm had revenue of $43.74 billion for the quarter, compared to analyst estimates of $44.66 billion. During the same quarter last year, the firm posted $1.00 earnings per share. Amazon.com’s revenue for the quarter was up 22.4% compared to the same quarter last year. Equities research analysts predict that Amazon.com will post $7.24 earnings per share for the current fiscal year.
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In other Amazon.com news, Director Tom A. Alberg sold 590 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $850.00, for a total value of $501,500.00. Following the completion of the transaction, the director now directly owns 22,525 shares in the company, valued at $19,146,250. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Zapolsky sold 503 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $850.00, for a total value of $427,550.00. Following the completion of the transaction, the insider now owns 2,523 shares of the company’s stock, valued at $2,144,550. The disclosure for this sale can be found here. 17.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Amazon.com during the fourth quarter worth $2,736,365,000. Asset Management One Co. Ltd. increased its position in Amazon.com by 728.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 696,134 shares of the e-commerce giant’s stock worth $522,899,000 after buying an additional 612,153 shares in the last quarter. State Street Corp increased its position in Amazon.com by 3.5% in the fourth quarter. State Street Corp now owns 16,357,782 shares of the e-commerce giant’s stock worth $12,266,213,000 after buying an additional 548,945 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Amazon.com during the fourth quarter worth $373,202,000. Finally, Ruane Cunniff & Goldfarb Inc. bought a new position in Amazon.com during the fourth quarter worth $335,571,000. Hedge funds and other institutional investors own 65.08% of the company’s stock.
Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.
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