Canaccord Genuity Lowers Amazon.com Price Target to $340.00 (AMZN)
Research analysts at Canaccord Genuity decreased their price objective on shares of Amazon.com (NASDAQ:AMZN) from $365.00 to $340.00 in a report released on Friday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price target would suggest a potential upside of 4.94% from the company’s current price.
Amazon.com (NASDAQ:AMZN) traded down 9.65% during mid-day trading on Friday, hitting $324.01. The stock had a trading volume of 17,855,140 shares. Amazon.com has a 1-year low of $279.33 and a 1-year 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) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.02) earnings per share. Amazon.com’s revenue was up 23.2% compared to the same quarter last year. 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 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. Separately, analysts at Bank of America downgraded shares of Amazon.com from a “buy” rating to a “neutral” rating in a research note on Friday. They now have a $400.00 price target on the stock, down previously from $420.00. Finally, analysts at Raymond James downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Amazon.com currently has a consensus rating of “Buy” and an average price target of $406.77.
Amazon.com, Inc (NASDAQ:AMZN) serves consumers through its retail websites and focus on selection, price, and convenience.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.