Amazon.com Inc. (AMZN) Rating Reiterated by Cowen and Company
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “outperform” rating reaffirmed by investment analysts at Cowen and Company in a research report issued to clients and investors on Wednesday. They presently have a $960.00 price target on the e-commerce giant’s stock. Cowen and Company’s price target suggests a potential upside of 15.10% from the stock’s previous close.
A number of other research analysts have also weighed in on AMZN. KeyCorp raised their price objective on Amazon.com from $800.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, June 16th. Pacific Crest reaffirmed a “buy” rating on shares of Amazon.com in a research report on Thursday, June 16th. Vetr raised Amazon.com from a “hold” rating to a “buy” rating and set a $744.13 price objective for the company in a research report on Monday, June 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,000.00 price objective on shares of Amazon.com in a research report on Wednesday, June 22nd. Finally, Maxim Group started coverage on Amazon.com in a research report on Wednesday, June 22nd. They set a “buy” rating and a $825.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, forty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $891.31.
Shares of Amazon.com (NASDAQ:AMZN) traded up 0.37% on Wednesday, hitting $834.09. The stock had a trading volume of 2,380,004 shares. Amazon.com has a 12 month low of $474.00 and a 12 month high of $847.21. The stock has a 50 day moving average of $794.09 and a 200-day moving average of $723.14. The stock has a market cap of $395.42 billion, a PE ratio of 207.43 and a beta of 1.20.
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Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share 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 analyst estimates of $29.54 billion. During the same quarter last year, the company earned $0.19 EPS. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. Equities research analysts anticipate that Amazon.com will post $5.85 EPS for the current year.
In other news, CEO Andrew R. Jassy sold 2,305 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 84,446 shares in the company, valued at $65,002,308.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 81,871,067 shares of the company’s stock, valued at $61,955,111,241.58. The disclosure for this sale can be found here. 17.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. increased its position in shares of Amazon.com by 0.4% in the second quarter. Cornerstone Advisors Inc. now owns 558 shares of the e-commerce giant’s stock valued at $399,000 after buying an additional 2 shares during the period. Cadence Bank NA increased its position in Amazon.com by 0.4% in the second quarter. Cadence Bank NA now owns 497 shares of the e-commerce giant’s stock worth $355,000 after buying an additional 2 shares during the period. American Economic Planning Group Inc. ADV increased its position in Amazon.com by 0.6% in the second quarter. American Economic Planning Group Inc. ADV now owns 365 shares of the e-commerce giant’s stock worth $261,000 after buying an additional 2 shares during the period. First Niagara Bank increased its position in Amazon.com by 0.3% in the second quarter. First Niagara Bank now owns 1,330 shares of the e-commerce giant’s stock worth $952,000 after buying an additional 4 shares during the period. Finally, Hartford Financial Management Inc. increased its position in Amazon.com by 1.1% in the second quarter. Hartford Financial Management Inc. now owns 475 shares of the e-commerce giant’s stock worth $339,000 after buying an additional 5 shares during the period. 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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