Amazon.com Inc. (NASDAQ:AMZN) had its target price dropped by Royal Bank Of Canada from $1,000.00 to $840.00 in a research note issued to investors on Friday. The firm currently has an “outperform” rating on the e-commerce giant’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 8.37% from the company’s current price.

Several other research analysts have also issued reports on the company. Jefferies Group reaffirmed a “buy” rating on shares of Amazon.com in a research report on Saturday, June 4th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Amazon.com in a research report on Saturday, June 4th. JMP Securities reaffirmed a “buy” rating and set a $775.00 target price on shares of Amazon.com in a research report on Saturday, July 9th. Deutsche Bank AG reaffirmed a “buy” rating and set a $900.00 target price on shares of Amazon.com in a research report on Sunday, July 10th. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $840.00 target price on shares of Amazon.com in a research report on Sunday, July 17th. Seven equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. Amazon.com currently has an average rating of “Buy” and an average target price of $864.64.

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

Shares of Amazon.com (NASDAQ:AMZN) opened at 775.10 on Friday. Amazon.com has a one year low of $474.00 and a one year high of $790.79. The firm has a market cap of $367.45 billion, a price-to-earnings ratio of 192.76 and a beta of 1.11. The stock’s 50 day moving average price is $767.68 and its 200 day moving average price is $694.54.

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Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.67. Amazon.com had a return on equity of 13.52% and a net margin of 1.60%. The company had revenue of $30.40 billion for the quarter, compared to the consensus estimate of $29.54 billion. During the same quarter last year, the business posted $0.19 EPS. Amazon.com’s revenue for the quarter was up 31.1% on a year-over-year basis. On average, equities analysts anticipate that Amazon.com will post $5.76 earnings per share for the current fiscal year.

In other Amazon.com news, CEO Andrew R. Jassy sold 2,305 shares of Amazon.com stock in a transaction on Monday, August 15th. The shares were sold at an average price of $769.75, for a total value of $1,774,273.75. Following the sale, the chief executive officer now directly owns 84,446 shares in the company, valued at approximately $65,002,308.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 625 shares of Amazon.com stock in a transaction on Monday, August 15th. The shares were sold at an average price of $770.10, for a total transaction of $481,312.50. Following the completion of the sale, the vice president now owns 6,519 shares in the company, valued at $5,020,281.90. The disclosure for this sale can be found here. 17.70% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Pioneer Investment Management Inc. increased its stake in shares of Amazon.com by 38.8% in the fourth quarter. Pioneer Investment Management Inc. now owns 11,052 shares of the e-commerce giant’s stock worth $7,470,000 after buying an additional 3,091 shares in the last quarter. Private Asset Management Inc. increased its stake in shares of Amazon.com by 5.0% in the first quarter. Private Asset Management Inc. now owns 2,878 shares of the e-commerce giant’s stock worth $1,708,000 after buying an additional 136 shares in the last quarter. Hollencrest Securities LLC increased its stake in shares of Amazon.com by 3.0% in the first quarter. Hollencrest Securities LLC now owns 7,718 shares of the e-commerce giant’s stock worth $4,581,000 after buying an additional 227 shares in the last quarter. Curbstone Financial Management Corp increased its stake in shares of Amazon.com by 1.5% in the first quarter. Curbstone Financial Management Corp now owns 4,594 shares of the e-commerce giant’s stock worth $2,727,000 after buying an additional 70 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. bought a new stake in shares of Amazon.com during the first quarter worth about $5,335,000. Institutional investors own 65.44% of the company’s stock.

About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. The Company has three segments: North America, International and Amazon Web Services (AWS).

5 Day Chart for NASDAQ:AMZN

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