Amazon.com (AMZN) Hits New 12-Month High After Analyst Upgrade
Shares of Amazon.com, Inc. (NASDAQ:AMZN) hit a new 52-week high during mid-day trading on Thursday after Stifel Nicolaus raised their price target on the stock from $1,313.00 to $1,425.00. Stifel Nicolaus currently has a buy rating on the stock. Amazon.com traded as high as $1,268.15 and last traded at $1,254.33, with a volume of 2685200 shares changing hands. The stock had previously closed at $1,252.70.
A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. reissued a “buy” rating and issued a $1,385.00 target price (up from $1,375.00) on shares of Amazon.com in a research report on Wednesday. Piper Jaffray Companies reissued an “overweight” rating and issued a $1,400.00 target price (up from $1,200.00) on shares of Amazon.com in a research report on Tuesday. BidaskClub raised Amazon.com from a “hold” rating to a “buy” rating in a research report on Tuesday. Credit Suisse Group reissued a “buy” rating on shares of Amazon.com in a research report on Tuesday. Finally, Robert W. Baird reissued a “buy” rating and issued a $1,310.00 target price on shares of Amazon.com in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and fifty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $1,259.52.
In related news, Director Tom A. Alberg sold 1,860 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $1,109.20, for a total value of $2,063,112.00. Following the completion of the transaction, the director now directly owns 18,460 shares of the company’s stock, valued at approximately $20,475,832. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey P. Bezos sold 391,110 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $1,103.53, for a total value of $431,601,618.30. Following the completion of the transaction, the chief executive officer now directly owns 79,891,433 shares of the company’s stock, valued at $88,162,593,058.49. The disclosure for this sale can be found here. Insiders sold a total of 402,338 shares of company stock valued at $444,391,701 over the last three months. Insiders own 17.00% of the company’s stock.
The company has a debt-to-equity ratio of 1.00, a current ratio of 1.03 and a quick ratio of 0.74. The stock has a market cap of $615,200.00, a PE ratio of 322.39, a price-to-earnings-growth ratio of 7.22 and a beta of 1.46.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 26th. The e-commerce giant reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.57). The company had revenue of $43.74 billion for the quarter, compared to analysts’ expectations of $42.26 billion. Amazon.com had a return on equity of 8.67% and a net margin of 1.20%. The business’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. equities analysts predict that Amazon.com, Inc. will post 4.24 EPS for the current year.
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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