Amazon.com Inc. (AMZN) Earns Buy Rating from Deutsche Bank AG
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Deutsche Bank AG in a research note issued to investors on Wednesday. They currently have a $985.00 target price on the e-commerce giant’s stock. Deutsche Bank AG’s price objective points to a potential upside of 18.09% from the stock’s previous close.
AMZN has been the subject of several other reports. Bank of America Corp. reiterated a “buy” rating and set a $860.00 price objective on shares of Amazon.com in a research report on Monday, August 15th. KeyCorp reiterated an “overweight” rating and set a $847.00 price objective on shares of Amazon.com in a research report on Sunday, August 21st. JPMorgan Chase & Co. set a $908.00 price objective on Amazon.com and gave the stock a “buy” rating in a research report on Tuesday, July 12th. Piper Jaffray Cos. reiterated a “buy” rating and set a $800.00 price objective on shares of Amazon.com in a research report on Friday, July 8th. Finally, Cowen and Company reiterated an “outperform” rating and set a $960.00 price objective (up from $900.00) on shares of Amazon.com in a research report on Monday, September 26th. Five equities research analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $891.31.
Amazon.com (NASDAQ:AMZN) traded up 0.37% during trading on Wednesday, reaching $834.09. The company’s stock had a trading volume of 2,373,674 shares. The firm has a market capitalization of $395.42 billion, a P/E ratio of 207.43 and a beta of 1.20. Amazon.com has a 52 week low of $474.00 and a 52 week high of $847.21. The firm has a 50-day moving average price of $794.09 and a 200-day moving average price of $723.14.
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Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 EPS for the quarter, beating the Zacks’ 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 earned $30.40 billion during the quarter, compared to the consensus estimate of $29.54 billion. During the same period in the previous year, the firm posted $0.19 earnings per share. Amazon.com’s quarterly revenue was up 31.1% compared to the same quarter last year. On average, equities analysts anticipate that Amazon.com will post $5.85 EPS for the current fiscal year.
In other news, insider Jeffrey M. Blackburn sold 10,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $760.98, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $756.74, for a total transaction of $756,740,000.00. Following the completion of the sale, the chief executive officer now owns 81,871,067 shares of the company’s stock, valued at approximately $61,955,111,241.58. The disclosure for this sale can be found here. Corporate insiders own 17.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AMZN. Pathstone Family Office LLC raised its position in shares of Amazon.com by 92.1% in the second quarter. Pathstone Family Office LLC now owns 146 shares of the e-commerce giant’s stock worth $105,000 after buying an additional 70 shares in the last quarter. Kistler Tiffany Companies LLC raised its position in Amazon.com by 906.7% in the second quarter. Kistler Tiffany Companies LLC now owns 151 shares of the e-commerce giant’s stock worth $108,000 after buying an additional 136 shares during the period. Kings Point Capital Management purchased a new position in Amazon.com during the second quarter worth approximately $109,000. Krilogy Financial LLC raised its position in Amazon.com by 157.1% in the second quarter. Krilogy Financial LLC now owns 198 shares of the e-commerce giant’s stock worth $142,000 after buying an additional 121 shares during the period. Finally, West Oak Capital LLC raised its position in Amazon.com by 105.7% in the second quarter. West Oak Capital LLC now owns 216 shares of the e-commerce giant’s stock worth $155,000 after buying an additional 111 shares during the period. Institutional investors and hedge funds own 65.44% of the company’s stock.
Amazon.com Company Profile
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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