KeyCorp Reiterates “Overweight” Rating for Amazon.com Inc. (AMZN)
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “overweight” rating reaffirmed by stock analysts at KeyCorp in a research note issued to investors on Wednesday. They currently have a $847.00 price target on the e-commerce giant’s stock. KeyCorp’s price objective would indicate a potential upside of 1.55% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the stock. Bank of America Corp. restated a “buy” rating and set a $860.00 target price on shares of Amazon.com in a research note on Monday, August 15th. JPMorgan Chase & Co. set a $908.00 target price on shares of Amazon.com and gave the company a “buy” rating in a research note on Tuesday, July 12th. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $800.00 price target on shares of Amazon.com in a research report on Friday, July 8th. Cowen and Company reaffirmed an “outperform” rating and set a $960.00 price target (up previously from $900.00) on shares of Amazon.com in a research report on Monday, September 26th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $800.00 price target on shares of Amazon.com in a research report on Tuesday, July 5th. Five investment analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $891.31.
Amazon.com (NASDAQ:AMZN) traded up 0.37% during trading on Wednesday, hitting $834.09. 2,376,775 shares of the stock were exchanged. The company has a 50-day moving average price of $794.09 and a 200 day moving average price of $723.14. Amazon.com has a 1-year low of $474.00 and a 1-year high of $847.21. The firm has a market capitalization of $395.42 billion, a price-to-earnings ratio of 207.43 and a beta of 1.20.
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Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.67. The business had revenue of $30.40 billion for 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 business’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. Equities analysts predict that Amazon.com will post $5.85 earnings per share for the current fiscal year.
In other news, CEO Jeffrey P. Bezos sold 1,000,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 81,871,067 shares in the company, valued at approximately $61,955,111,241.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 2,305 shares of the stock in a transaction dated 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 owns 84,446 shares in the company, valued at approximately $65,002,308.50. The disclosure for this sale can be found here. Company insiders own 17.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Securities LLC increased its position in Amazon.com by 84.3% in the third quarter. Hollencrest Securities LLC now owns 14,219 shares of the e-commerce giant’s stock worth $11,906,000 after buying an additional 6,502 shares during the last quarter. Canandaigua National Bank & Trust Co. acquired a new position in Amazon.com during the third quarter worth approximately $230,000. Prospera Financial Services Inc increased its position in Amazon.com by 5.1% in the third quarter. Prospera Financial Services Inc now owns 2,797 shares of the e-commerce giant’s stock worth $2,342,000 after buying an additional 135 shares during the last quarter. Osborn Rohs Williams & Donohoe Ltd increased its position in Amazon.com by 2.9% in the third quarter. Osborn Rohs Williams & Donohoe Ltd now owns 895 shares of the e-commerce giant’s stock worth $749,000 after buying an additional 25 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Amazon.com by 2.0% in the third quarter. Nisa Investment Advisors LLC now owns 106,095 shares of the e-commerce giant’s stock worth $88,833,000 after buying an additional 2,115 shares during the last quarter. 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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