Amazon.com PT Lowered to $350.00 (AMZN)
JPMorgan Chase & Co. cut their price target on shares of Amazon.com (NASDAQ:AMZN) from $365.00 to $350.00 in a research note issued on Friday, Stock Ratings News reports. JPMorgan Chase & Co.’s target price indicates a potential upside of 15.20% from the stock’s previous close.
AMZN has been the subject of a number of other recent research reports. Analysts at Cowen and Company reiterated an “outperform” rating on shares of Amazon.com in a research note on Thursday. Separately, analysts at Argus upgraded shares of Amazon.com from a “hold” rating to a “buy” rating in a research note on Wednesday, April 16th. They now have a $480.00 price target on the stock. Finally, analysts at S&P Equity Research reiterated a “sell” rating on shares of Amazon.com in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $412.95.
Amazon.com (NASDAQ:AMZN) opened at 303.83 on Friday. Amazon.com has a 1-year low of $245.75 and a 1-year high of $408.06. The stock has a 50-day moving average of $342.8 and a 200-day moving average of $361.7. The company has a market cap of $139.5 billion and a price-to-earnings ratio of 571.44. Amazon.com also saw unusually large options trading on Thursday. Stock investors bought 82,913 call options on the company. This represents an increase of approximately 188% compared to the typical daily volume of 28,765 call options.
Amazon.com (NASDAQ:AMZN) last released its earnings data on Thursday, April 24th. The company reported $0.23 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.23. The company had revenue of $19.74 billion for the quarter, compared to the consensus estimate of $19.42 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 22.8% on a year-over-year basis. Analysts expect that Amazon.com will post $1.92 EPS for the current fiscal year.
Amazon.com, Inc (NASDAQ:AMZN) serves consumers through its retail websites and focus on selection, price, and convenience.
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