Amazon.com Inc. (AMZN) Raised to Buy at Argus
Amazon.com Inc. (NASDAQ:AMZN) was upgraded by analysts at Argus to a “buy” rating in a research note issued on Thursday.
Other equities research analysts have also recently issued reports about the stock. Robert W. Baird started coverage on shares of Amazon.com in a research report on Tuesday, May 31st. They issued a “buy” rating for the company. MKM Partners boosted their price target on shares of Amazon.com from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, June 1st. Cantor Fitzgerald restated a “buy” rating and issued a $800.00 price target on shares of Amazon.com in a report on Friday, May 27th. Sanford C. Bernstein restated a “buy” rating on shares of Amazon.com in a report on Thursday, June 2nd. Finally, Jefferies Group restated a “buy” rating on shares of Amazon.com in a report on Saturday, June 4th. Six analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $864.64.
Shares of Amazon.com (NASDAQ:AMZN) opened at 789.74 on Thursday. The stock has a market cap of $374.39 billion, a PE ratio of 196.40 and a beta of 1.11. Amazon.com has a one year low of $474.00 and a one year high of $790.79. The company has a 50-day moving average of $768.87 and a 200 day moving average of $696.70.
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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 (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.67. The company earned $30.40 billion during the quarter, compared to analysts’ expectations of $29.54 billion. Amazon.com had a net margin of 1.60% and a return on equity of 13.52%. The firm’s quarterly revenue was up 31.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS. On average, analysts predict that Amazon.com will post $5.76 earnings per share for the current year.
In related news, CEO Jeffrey P. Bezos sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $756.74, for a total value of $756,740,000.00. Following the sale, the chief executive officer now directly owns 81,871,067 shares in the company, valued at approximately $61,955,111,241.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey M. Blackburn sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $760.98, for a total transaction of $7,609,800.00. Following the completion of the sale, the insider now owns 55,887 shares in the company, valued at $42,528,889.26. The disclosure for this sale can be found here. Company insiders own 17.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. LPL Financial LLC raised its stake in Amazon.com by 24.5% in the first quarter. LPL Financial LLC now owns 105,035 shares of the e-commerce giant’s stock valued at $61,567,000 after buying an additional 20,700 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Amazon.com by 9.0% in the second quarter. Acadian Asset Management LLC now owns 117,216 shares of the e-commerce giant’s stock valued at $83,882,000 after buying an additional 9,640 shares during the last quarter. Prudential PLC increased its position in shares of Amazon.com by 5.7% in the first quarter. Prudential PLC now owns 105,738 shares of the e-commerce giant’s stock valued at $62,771,000 after buying an additional 5,657 shares during the last quarter. British Columbia Investment Management Corp increased its position in shares of Amazon.com by 1.3% in the second quarter. British Columbia Investment Management Corp now owns 204,723 shares of the e-commerce giant’s stock valued at $146,504,000 after buying an additional 2,602 shares during the last quarter. Finally, Suvretta Capital Management LLC purchased a new position in shares of Amazon.com during the first quarter valued at $147,407,000. Institutional investors and hedge funds own 65.44% of the company’s stock.
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).
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