Amazon.com Inc. (AMZN) Given Overweight Rating at Pacific Crest
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “overweight” rating reissued by stock analysts at Pacific Crest in a research report issued to clients and investors on Thursday.
A number of other equities research analysts also recently issued reports on AMZN. JMP Securities reiterated a “buy” rating on shares of Amazon.com in a research report on Sunday, July 17th. Bank of America Corp. reiterated a “buy” rating and issued a $840.00 price objective on shares of Amazon.com in a research report on Sunday, July 17th. Deutsche Bank AG reiterated a “buy” rating and issued a $900.00 price objective on shares of Amazon.com in a research report on Sunday, July 10th. Zacks Investment Research downgraded Amazon.com from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, William Blair reiterated an “outperform” rating on shares of Amazon.com in a research report on Friday, July 29th. Five analysts have rated the stock with a hold rating, forty-six have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $891.31.
Amazon.com (NASDAQ:AMZN) traded down 1.4328% on Thursday, reaching $822.1388. The company’s stock had a trading volume of 1,350,175 shares. The firm’s 50-day moving average price is $796.14 and its 200 day moving average price is $723.94. The company has a market cap of $389.75 billion, a P/E ratio of 204.4613 and a beta of 1.20. Amazon.com has a 52-week low of $474.00 and a 52-week high of $847.21.
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Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 EPS for the quarter, topping 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 firm earned $30.40 billion during the quarter, compared to analyst estimates of $29.54 billion. During the same period last year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was up 31.1% on a year-over-year basis. Equities analysts anticipate that Amazon.com will post $5.85 EPS for the current fiscal year.
In related news, 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 transaction of $11,200,000.00. Following the transaction, the chief executive officer now directly owns 68,141 shares in the company, valued at $54,512,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 625 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $770.10, for a total transaction of $481,312.50. Following the transaction, the vice president now owns 6,519 shares in the company, valued at $5,020,281.90. The disclosure for this sale can be found here. Corporate insiders own 17.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. 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 last quarter. 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 last quarter. 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 last quarter. Centre Asset Management LLC raised its position in Amazon.com by 6.8% in the first quarter. Centre Asset Management LLC now owns 44,294 shares of the e-commerce giant’s stock worth $26,295,000 after buying an additional 2,820 shares during the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management acquired a new position in Amazon.com during the first quarter worth $365,000. 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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