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Amazon.com (NASDAQ:AMZN)‘s stock had its “underperform” rating restated by Zacks in a report issued on Friday. They currently have a $326.00 price objective on the stock. Zacks‘s target price indicates a potential upside of 0.61% from the stock’s previous close.

Zacks’ analyst wrote, “Amazon.com is one of the largest online retailers in the world. Amazon’s second quarter loss was greater than the Zacks Consensus Estimate. Also, the business is getting more competitive and margins even thinner. The forward guidance was below seasonality but roughly in line with 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 maintain our Underperform rating.”

Shares of Amazon.com (NASDAQ:AMZN) traded down 9.65% during mid-day trading on Friday, hitting $324.01. 17,855,140 shares of the company’s stock traded hands. Amazon.com has a 52 week low of $279.33 and a 52 week high of $408.06. The stock has a 50-day moving average of $336.3 and a 200-day moving average of $342.. The company has a market cap of $149.1 billion and a P/E ratio of 559.45.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 24th. The company reported ($0.24) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.14) by $0.10. The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. On average, analysts predict that Amazon.com will post $1.05 earnings per share for the current fiscal year.

A number of other firms have also recently commented on AMZN. Analysts at Citigroup Inc. initiated coverage on shares of Amazon.com in a research note on Friday. They set an “in-line” rating on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Amazon.com from $365.00 to $340.00 in a research note on Friday. They now have a “hold” rating on the stock. Finally, analysts at Telsey Advisory Group cut their price target on shares of Amazon.com from $414.00 to $390.00 in a research note on Friday. They now have a “not rated” rating on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $406.77.

Amazon.com, Inc (NASDAQ:AMZN) serves consumers through its retail websites and focus on selection, price, and convenience.

To view Zacks’ full report, visit Zacks’ official website.

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