DA Davidson Begins Coverage on Amazon.com, Inc. (AMZN)
DA Davidson started coverage on shares of Amazon.com, Inc. (NASDAQ:AMZN) in a research note issued to investors on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $1,300.00 price objective on the e-commerce giant’s stock.
“king of bricks AND clicks” earned the company additional support from Wall Street. D.A. Davidson’s Tom Forte initiates coverage of Amazon’s stock with a Buy rating and a 12–18-month $1,300 price target and a five-year out price target of $1,800.Now that Amazon officially operates a physical retail presence through the acquisition of grocery chain Whole Foods, it is well positioned to gain even more market share from the entire retail sector, Forte argued in his initiation note. The expansion into physical retail was necessary to continue disrupting the sector even more.Amazon’s new physical retail space when combined with its market-leading cloud unit called Amazon Web Services will help the company “sustain its profitable revenue growth” for the foreseeable future, the analyst added.In fact, Amazon’s M&A plans are expected to continue as the company is eyeing potential acquisitions of other grocery categories as well as apparel retailers and gas stations, the analyst suggested.Finally, the secret behind Amazon’s success is that it is able to empower other businesses to leverage its advancements in artificial intelligence and machine learning through AWS to “further separate its efforts from legacy retailers.,” DA Davidson’s analyst commented.
Other research analysts have also recently issued research reports about the stock. Instinet reiterated a buy rating on shares of Amazon.com in a research note on Friday, June 2nd. Jefferies Group LLC reiterated a buy rating and set a $1,150.00 price target on shares of Amazon.com in a research note on Thursday, June 1st. Oppenheimer Holdings, Inc. reiterated a buy rating on shares of Amazon.com in a research note on Monday, May 29th. Loop Capital reiterated a buy rating and set a $1,100.00 price target on shares of Amazon.com in a research note on Friday, May 19th. Finally, Aegis reiterated a buy rating on shares of Amazon.com in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, forty-six have issued a buy rating and two have assigned a strong buy rating to the company. Amazon.com has a consensus rating of Buy and an average target price of $1,092.58.
Shares of Amazon.com (NASDAQ:AMZN) opened at 965.90 on Wednesday. Amazon.com has a one year low of $710.10 and a one year high of $1,083.31. The firm’s 50-day moving average is $983.17 and its 200-day moving average is $944.52. The company has a market cap of $464.00 billion, a PE ratio of 245.65 and a beta of 1.47.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by $1.00. The business had revenue of $37.96 billion for the quarter, compared to analysts’ expectations of $37.18 billion. Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 EPS. On average, equities analysts anticipate that Amazon.com will post $3.99 EPS for the current year.
In other news, VP Shelley Reynolds sold 544 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $986.52, for a total value of $536,666.88. Following the completion of the sale, the vice president now directly owns 6,533 shares in the company, valued at $6,444,935.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey A. Wilke sold 710 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $985.25, for a total transaction of $699,527.50. Following the completion of the sale, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $9,852,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,793 shares of company stock worth $9,574,377. Insiders own 17.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vestor Capital LLC raised its position in shares of Amazon.com by 10.1% in the second quarter. Vestor Capital LLC now owns 109 shares of the e-commerce giant’s stock valued at $106,000 after buying an additional 10 shares during the last quarter. WealthTrust Arizona LLC raised its position in shares of Amazon.com by 2.7% in the second quarter. WealthTrust Arizona LLC now owns 114 shares of the e-commerce giant’s stock valued at $110,000 after buying an additional 3 shares during the last quarter. OLD Second National Bank of Aurora raised its position in shares of Amazon.com by 15.0% in the first quarter. OLD Second National Bank of Aurora now owns 115 shares of the e-commerce giant’s stock valued at $102,000 after buying an additional 15 shares during the last quarter. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of Amazon.com in the second quarter valued at about $116,000. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in shares of Amazon.com in the second quarter valued at about $121,000. Institutional investors and hedge funds own 60.80% 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 Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.
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