Cowen and Company Reaffirms “Outperform” Rating for Amazon.com Inc. (AMZN)
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “outperform” rating reaffirmed by stock analysts at Cowen and Company in a research note issued on Wednesday. They presently have a $960.00 price target on the e-commerce giant’s stock. Cowen and Company’s price target would indicate a potential upside of 15.10% from the stock’s previous close.
AMZN has been the subject of several other reports. Goldman Sachs Group Inc. restated a “buy” rating and set a $920.00 price target on shares of Amazon.com in a report on Thursday, September 8th. Mizuho lifted their price objective on Amazon.com from $855.00 to $950.00 and gave the stock a “buy” rating in a report on Friday, September 23rd. Evercore ISI reiterated a “buy” rating and issued a $1,015.00 price objective (up from $930.00) on shares of Amazon.com in a report on Friday, September 16th. Vetr upgraded Amazon.com from a “hold” rating to a “buy” rating and set a $880.16 price objective for the company in a report on Thursday, October 6th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $900.00 price objective on shares of Amazon.com in a report on Wednesday, September 7th. 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 an average rating of “Buy” and a consensus price target of $891.31.
Shares of Amazon.com (NASDAQ:AMZN) traded up 0.37% during midday trading on Wednesday, hitting $834.09. The stock had a trading volume of 2,380,004 shares. The firm has a market cap of $395.42 billion, a price-to-earnings ratio of 207.43 and a beta of 1.20. Amazon.com has a 12 month low of $474.00 and a 12 month high of $847.21. The stock’s 50 day moving average price is $794.09 and its 200 day moving average price is $723.14.
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Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share for the quarter, beating the 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 firm earned $30.40 billion during the quarter, compared to the consensus estimate of $29.54 billion. During the same period last year, the company earned $0.19 earnings per share. The company’s revenue was up 31.1% on a year-over-year basis. On average, equities analysts forecast that Amazon.com will post $5.85 EPS for the current fiscal year.
In other news, CEO Jeffrey P. Bezos sold 1,000,000 shares of Amazon.com stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $756.74, for a total value of $756,740,000.00. Following the completion of the sale, the chief executive officer now directly owns 81,871,067 shares of the company’s stock, valued at $61,955,111,241.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 value of $481,312.50. Following the completion of the sale, the vice president now directly owns 6,519 shares of the company’s stock, valued at $5,020,281.90. The disclosure for this sale can be found here. 17.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Middleton & Co Inc MA raised its position in Amazon.com by 7.2% in the first quarter. Middleton & Co Inc MA now owns 21,474 shares of the e-commerce giant’s stock worth $12,748,000 after buying an additional 1,436 shares during the period. Bowling Portfolio Management LLC raised its position in Amazon.com by 66.0% in the first quarter. Bowling Portfolio Management LLC now owns 6,417 shares of the e-commerce giant’s stock worth $3,809,000 after buying an additional 2,552 shares during the period. Pacad Investment Ltd. raised its position in Amazon.com by 15.2% in the first quarter. Pacad Investment Ltd. now owns 35,900 shares of the e-commerce giant’s stock worth $21,312,000 after buying an additional 4,736 shares during the period. WASHINGTON TRUST Co raised its position in Amazon.com by 5.6% in the first quarter. WASHINGTON TRUST Co now owns 45,202 shares of the e-commerce giant’s stock worth $26,834,000 after buying an additional 2,397 shares during the period. Finally, First Long Island Investors LLC raised its position in Amazon.com by 1.2% in the first quarter. First Long Island Investors LLC now owns 31,367 shares of the e-commerce giant’s stock worth $18,621,000 after buying an additional 371 shares during the period. Hedge funds and other institutional investors 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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