Amazon.com Given New $400.00 Price Target at Deutsche Bank (AMZN)
Deutsche Bank lifted their price target on shares of Amazon.com (NASDAQ:AMZN) from $335.00 to $400.00 in a research note issued on Friday, StockRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective indicates a potential upside of 10.07% from the company’s current price.
The analysts wrote, “Two favorable developments in this month’s pricing checks: 1. First, the gap between BBY and AMZN on TVs narrowed to 2%, the smallest gap in over a year. This development is a crucial step in our long-term thesis as BBY needs to match AMZN on price and stem the tide of share loss, albeit at a lower gross margin. We believe BBY has ample cost cutting opportunities to offset the lower gross margins to drive EPS gains going forward. More competitive pricing, helps to reduce showrooming at the retail level, and combined with more efficient supply chain management (or better in-stock) helps BBY take share online as well. 2. The second, and more incremental, takeaway is that price per inch at both BBY and AMZN was up about 15% y/y. Prices were up 10% y/y in September. While we did not call this out last month, as it was only one data point, the October results are starting to create a trend. With units having hung in relatively better vs price, higher AURs could be a significant comps driver, and gives us confidence to raise our comp assumption for the quarter.”
A number of other analysts have also recently weighed in on AMZN. Analysts at Stifel Nicolaus raised their price target on shares of Amazon.com from $335.00 to $400.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at B. Riley raised their price target on shares of Amazon.com from $340.00 to $409.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Benchmark Co. raised their price target on shares of Amazon.com from $350.00 to $400.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $374.20.
Amazon.com (NASDAQ:AMZN) traded down 0.65% on Friday, hitting $361.01. The stock had a trading volume of 1,192,661 shares. Amazon.com has a one year low of $218.18 and a one year high of $313.62. The stock has a 50-day moving average of $294.1 and a 200-day moving average of $277.1. The company has a market cap of $165.3 billion and a P/E ratio of 1316.63. Amazon.com also saw unusually large options trading activity on Friday. Traders bought 173,274 call options on the company. This represents an increase of 555% compared to the typical volume of 26,459 call options.
Amazon.com (NASDAQ:AMZN) last released its earnings data on Thursday, October 24th. The company reported ($0.09) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.09). The company had revenue of $17.09 billion for the quarter, compared to the consensus estimate of $16.77 billion. During the same quarter in the previous year, the company posted ($0.23) earnings per share. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, analysts predict that Amazon.com will post $0.77 earnings per share for the current fiscal year.
Amazon.com, Inc (NASDAQ:AMZN), incorporated on May 28, 1996, serves consumers through its retail websites and focus on selection, price, and convenience.
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