Amazon.com Rating Lowered to Neutral at B. Riley (AMZN)
Amazon.com (NASDAQ:AMZN) was downgraded by stock analysts at B. Riley from a “buy” rating to a “neutral” rating in a report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $350.00 price target on the stock, down from their previous price target of $425.00. B. Riley’s price objective points to a potential upside of 8.02% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on AMZN. Analysts at CRT Capital downgraded shares of Amazon.com from a “buy” rating to a “fair value” rating in a research note on Friday. They now have a $350.00 price target on the stock, down previously from $390.00. Separately, analysts at Citigroup Inc. downgraded shares of Amazon.com from a “buy” rating to a “neutral” rating in a research note on Tuesday. They now have a $395.00 price target on the stock, down previously from $414.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Amazon.com in a research note on Monday, July 21st. They now have a $375.00 price target on the stock, down previously from $400.00. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $406.77.
Shares of Amazon.com (NASDAQ:AMZN) opened at 324.01 on Friday. Amazon.com has a one year low of $279.33 and a one year high of $408.06. The stock’s 50-day moving average is $336.3 and its 200-day moving average is $342.. The company has a market cap of $149.1 billion and a price-to-earnings ratio of 559.45.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, July 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Analysts expect that Amazon.com will post $1.05 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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