Benchmark Co. Increases Amazon.com Price Target to $500.00 (AMZN)
Stock analysts at Benchmark Co. boosted their price target on shares of Amazon.com (NASDAQ:AMZN) from $400.00 to $500.00 in a report issued on Friday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Benchmark Co.’s price objective indicates a potential upside of 39.40% from the stock’s previous close.
The analysts wrote, “Amazon has outpaced the ecommerce market, retailers and even Internet leaders like Google (GOOG-Not Rated) meaningfully. While Amazon’s revenue growth rate may moderate somewhat given the challenging economic environment and difficult comparisons, we think Amazon may see meaningful OIBDA margin expansion over the next few years despite ongoing investment to support strong unit volume growth.”
Amazon.com (NASDAQ:AMZN) traded down 11.00% during mid-day trading on Friday, hitting $358.69. 16,181,519 shares of the company’s stock traded hands. 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 P/E ratio of 1460.18. Amazon.com also was the recipient of some unusual options trading activity on Thursday. Investors acquired 94,031 call options on the stock. This represents an increase of approximately 279% compared to the average volume of 24,791 call options.
Amazon.com (NASDAQ:AMZN) last released its earnings data 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. On average, analysts predict that Amazon.com will post $2.66 earnings per share for the current fiscal year.
AMZN has been the subject of a number of other recent research reports. Analysts at Oppenheimer cut their price target on shares of Amazon.com from $500.00 to $475.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Amazon.com from $400.00 to $440.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at B. Riley raised their price target on shares of Amazon.com from $409.00 to $425.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average 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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