Amazon.com, Inc. (AMZN) Downgraded by Vetr Inc.
Amazon.com, Inc. (NASDAQ:AMZN) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday. They currently have a $1,088.80 target price on the e-commerce giant’s stock. Vetr‘s target price would suggest a potential upside of 10.29% from the stock’s previous close.
Several other research firms have also issued reports on AMZN. Credit Suisse Group restated an “outperform” rating on shares of Amazon.com in a research report on Thursday, August 31st. Cowen and Company restated an “outperform” rating and set a $1,125.00 target price on shares of Amazon.com in a research report on Thursday, August 10th. Deutsche Bank AG reiterated a “buy” rating on shares of Amazon.com in a report on Monday, June 12th. Zacks Investment Research cut Amazon.com from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Barclays PLC lifted their price objective on Amazon.com from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, forty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,109.89.
Amazon.com (NASDAQ AMZN) traded down 0.38% during mid-day trading on Tuesday, reaching $987.20. 3,084,921 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $968.03 and a 200-day moving average price of $965.03. Amazon.com has a 52 week low of $710.10 and a 52 week high of $1,083.31. The stock has a market cap of $474.23 billion, a P/E ratio of 251.07 and a beta of 1.47.
Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($1.00). The company had revenue of $37.96 billion for the quarter, compared to analyst estimates of $37.18 billion. Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. Amazon.com’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. On average, analysts forecast that Amazon.com will post $3.66 earnings per share for the current year.
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In other news, CEO Andrew R. Jassy sold 1,985 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $986.12, for a total transaction of $1,957,448.20. Following the completion of the transaction, the chief executive officer now owns 81,479 shares in the company, valued at $80,348,071.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey A. Wilke sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $955.20, for a total value of $2,674,560.00. Following the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $9,552,000. The disclosure for this sale can be found here. Insiders sold a total of 9,083 shares of company stock valued at $8,874,850 in the last quarter. 17.70% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Osborn Williams & Donohoe LLC lifted its holdings in shares of Amazon.com by 1.1% in the 2nd quarter. Osborn Williams & Donohoe LLC now owns 915 shares of the e-commerce giant’s stock valued at $886,000 after acquiring an additional 10 shares during the last quarter. Reinhart Partners Inc. lifted its holdings in shares of Amazon.com by 66.8% in the 1st quarter. Reinhart Partners Inc. now owns 789 shares of the e-commerce giant’s stock valued at $699,000 after acquiring an additional 316 shares during the last quarter. Davidson & Garrard Inc. lifted its holdings in shares of Amazon.com by 17.6% in the 3rd quarter. Davidson & Garrard Inc. now owns 4,201 shares of the e-commerce giant’s stock valued at $3,518,000 after acquiring an additional 628 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of Amazon.com by 96.2% in the 4th quarter. Advisory Services Network LLC now owns 7,454 shares of the e-commerce giant’s stock valued at $5,038,000 after acquiring an additional 3,654 shares during the last quarter. Finally, Williams Jones & Associates LLC lifted its holdings in shares of Amazon.com by 22.7% in the 2nd quarter. Williams Jones & Associates LLC now owns 24,801 shares of the e-commerce giant’s stock valued at $17,748,000 after acquiring an additional 4,596 shares during the last quarter. Hedge funds and other institutional investors own 60.77% of the company’s stock.
Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.
To view Vetr’s full report, visit Vetr’s official website.
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