Amazon.com’s (AMZN) “Outperform” Rating Reiterated at Credit Suisse Group AG
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “outperform” rating reiterated by analysts at Credit Suisse Group AG in a research note issued on Monday. They presently have a $1,050.00 price objective on the e-commerce giant’s stock, up from their prior price objective of $920.00. Credit Suisse Group AG’s target price would indicate a potential upside of 27.59% from the company’s previous close.
Several other brokerages have also recently weighed in on AMZN. Needham & Company LLC reiterated a “hold” rating on shares of Amazon.com in a research note on Monday, June 27th. Wedbush reiterated an “outperform” rating and issued a $900.00 price objective on shares of Amazon.com in a research note on Friday, September 30th. Piper Jaffray Cos. reiterated a “buy” rating and issued a $800.00 price objective on shares of Amazon.com in a research note on Sunday, July 31st. Pacific Crest reiterated a “buy” rating and issued a $820.00 price objective on shares of Amazon.com in a research note on Friday, July 15th. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $840.00 price objective on shares of Amazon.com in a research note on Sunday, July 17th. Five investment analysts have rated the stock with a hold rating, forty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $897.87.
Shares of Amazon.com (NASDAQ:AMZN) traded down 1.09% during trading on Monday, reaching $814.03. 2,053,709 shares of the company traded hands. Amazon.com has a 52 week low of $474.00 and a 52 week high of $847.21. The company’s 50-day moving average price is $800.02 and its 200-day moving average price is $726.41. The company has a market capitalization of $385.91 billion, a P/E ratio of 202.44 and a beta of 1.19.
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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 analysts’ consensus estimates of $1.11 by $0.67. The firm had revenue of $30.40 billion for the quarter, compared to the consensus estimate of $29.54 billion. Amazon.com had a net margin of 1.60% and a return on equity of 13.52%. The business’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 EPS. Equities research analysts forecast that Amazon.com will post $5.85 EPS for the current fiscal year.
In other Amazon.com news, CEO Jeffrey P. Bezos sold 1,000,000 shares of Amazon.com stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 81,871,067 shares in the company, valued at approximately $61,955,111,241.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 625 shares of Amazon.com stock in a transaction that occurred 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 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. 17.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Algert Global LLC bought a new position in shares of Amazon.com during the first quarter valued at $1,092,000. Mckinley Capital Management LLC Delaware increased its stake in Amazon.com by 616.7% in the first quarter. Mckinley Capital Management LLC Delaware now owns 7,110 shares of the e-commerce giant’s stock worth $4,221,000 after buying an additional 6,118 shares during the period. BlackRock Group LTD increased its stake in Amazon.com by 1.5% in the first quarter. BlackRock Group LTD now owns 3,018,330 shares of the e-commerce giant’s stock worth $1,791,801,000 after buying an additional 45,684 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Amazon.com by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,968,586 shares of the e-commerce giant’s stock worth $5,917,751,000 after buying an additional 156,823 shares during the period. Finally, BlackRock Japan Co. Ltd increased its stake in Amazon.com by 2.6% in the first quarter. BlackRock Japan Co. Ltd now owns 528,525 shares of the e-commerce giant’s stock worth $313,754,000 after buying an additional 13,178 shares during the period. Institutional investors own 65.47% of the company’s stock.
Amazon.com Company Profile
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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