Amazon.com Price Target Cut to $460.00 (AMZN)
Investment analysts at Pacific Crest reduced their target price on shares of Amazon.com (NASDAQ:AMZN) from $475.00 to $460.00 in a note issued to investors on Friday, American Banking & Market News reports. The firm currently has an “outperform” rating on the stock. Pacific Crest’s target price points to a potential upside of 28.24% from the stock’s previous close.
Amazon.com (NASDAQ:AMZN) traded down 11.00% during mid-day trading on Friday, hitting $358.69. The stock had a trading volume of 16,181,519 shares. Amazon.com has a 1-year low of $245.75 and a 1-year high of $408.06. The stock’s 50-day moving average is $395.2 and its 200-day moving average is $341.4. The company has a market cap of $164.2 billion and a price-to-earnings ratio of 1460.18. Amazon.com also saw some unusual options trading on Thursday. Investors acquired 94,031 call options on the company. This represents an increase of 279% compared to the typical volume of 24,791 call options.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.67 by $0.16. The company had revenue of $25.59 billion for the quarter, compared to the consensus estimate of $26.06 billion. Analysts expect that Amazon.com will post $2.66 EPS for the current fiscal year.
AMZN has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Amazon.com from $450.00 to $460.00 in a research note to investors on Friday. Separately, analysts at Deutsche Bank raised their price target on shares of Amazon.com from $400.00 to $475.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Citigroup Inc. cut their price target on shares of Amazon.com from $457.00 to $454.00 in a research note to investors on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. Amazon.com has an average rating of “Buy” and a consensus target price of $414.81.
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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