Amazon.com Inc. (AMZN) Given “Overweight” Rating at Pacific Crest
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “overweight” rating reissued by Pacific Crest in a research note issued to investors on Thursday.
Several other equities research analysts have also weighed in on AMZN. JMP Securities restated a “buy” rating on shares of Amazon.com in a report on Sunday, July 17th. Bank of America Corp. restated a “buy” rating and issued a $840.00 target price on shares of Amazon.com in a report on Sunday, July 17th. Deutsche Bank AG restated a “buy” rating and issued a $900.00 target price on shares of Amazon.com in a report on Sunday, July 10th. Zacks Investment Research lowered Amazon.com from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, William Blair restated an “outperform” rating on shares of Amazon.com in a report on Friday, July 29th. Five equities research analysts have rated the stock with a hold rating, forty-six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $891.31.
Amazon.com (NASDAQ:AMZN) traded down 1.31% during trading on Thursday, hitting $823.14. 1,416,463 shares of the stock were exchanged. The company has a market cap of $390.23 billion, a price-to-earnings ratio of 204.71 and a beta of 1.20. The stock’s 50 day moving average is $796.14 and its 200-day moving average is $723.94. Amazon.com has a one year low of $474.00 and a one year high of $847.21.
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Amazon.com (NASDAQ:AMZN) last announced its quarterly 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. Amazon.com had a return on equity of 13.52% and a net margin of 1.60%. The business earned $30.40 billion during the quarter, compared to analyst estimates of $29.54 billion. During the same period in the previous year, the company earned $0.19 EPS. The firm’s revenue was up 31.1% on a year-over-year basis. On average, equities research analysts expect that Amazon.com will post $5.85 earnings per share for the current fiscal 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 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 approximately $61,955,111,241.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew R. Jassy sold 14,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $800.00, for a total value of $11,200,000.00. Following the completion of the sale, the chief executive officer now directly owns 68,141 shares of the company’s stock, valued at $54,512,800. The disclosure for this sale can be found here. 17.70% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Amazon.com by 4.8% in the second quarter. Vanguard Group Inc. now owns 23,795,875 shares of the e-commerce giant’s stock worth $17,028,804,000 after buying an additional 1,082,051 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Amazon.com during the second quarter worth approximately $479,380,000. Societe Generale bought a new stake in shares of Amazon.com during the second quarter worth approximately $391,842,000. Bank of Montreal Can bought a new stake in shares of Amazon.com during the second quarter worth approximately $341,933,000. Finally, Point72 Asset Management L.P. raised its stake in shares of Amazon.com by 224.2% in the second quarter. Point72 Asset Management L.P. now owns 666,620 shares of the e-commerce giant’s stock worth $477,047,000 after buying an additional 461,020 shares in the last quarter. 65.44% of the stock is owned by institutional investors and hedge funds.
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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