Amazon.com Rating Lowered to Neutral at Zacks (AMZN)
Amazon.com (NASDAQ:AMZN) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Friday. They currently have a $343.00 price target on the stock. Zacks‘s price objective points to a potential upside of 4.89% from the company’s current price.
Zacks’ analyst wrote, “Amazon.com is one of the largest online retailers in the world. Amazon’s first quarter earnings exceeded the Zacks Consensus Estimate by a penny. However, the business is getting more competitive and margins even thinner. The forward guidance was in line with seasonality, but below street estimates. Aggressive pricing actions are expected to continue as Amazon goes all out to attract consumers to its platforms. We remain encouraged by the company’s strong cash flow generation. We believe that current investments are supported by a strong balance sheet but growing uncertainty about when current investments may be recovered lead us to downgrade the shares to Neutral.”
In other Amazon.com news, SVP Jeffrey A. Wilke sold 1,876 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $325.61, for a total transaction of $610,844.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Amazon.com (NASDAQ:AMZN) traded down 1.53% on Friday, hitting $322.0084. The stock had a trading volume of 3,546,866 shares. Amazon.com has a 52 week low of $265.00 and a 52 week high of $408.06. The stock’s 50-day moving average is $311.4 and its 200-day moving average is $351.5. The company has a market cap of $148.2 billion and a price-to-earnings ratio of 510.14. Amazon.com also was the target of unusually large options trading activity on Thursday. Traders bought 76,337 call options on the company. This is an increase of 133% compared to the typical daily volume of 32,811 call options.
Amazon.com (NASDAQ:AMZN) last released its earnings data on Thursday, April 24th. The company reported $0.23 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.18 earnings per share. Amazon.com’s revenue was up 22.8% compared to the same quarter last year. Analysts expect that Amazon.com will post $1.07 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on AMZN. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Amazon.com in a research note on Thursday. They now have a $439.00 price target on the stock. Separately, analysts at Goldman Sachs upgraded shares of Amazon.com from a “buy” rating to a “conviction-buy” rating in a research note on Wednesday, June 11th. They now have a $430.00 price target on the stock, up previously from $400.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Amazon.com in a research note on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Amazon.com presently has an average rating of “Buy” and an average target price of $412.85.
Amazon.com, Inc (NASDAQ:AMZN) serves consumers through its retail websites and focus on selection, price, and convenience.
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