Amazon.com, Inc. (AMZN) Stock Rating Reaffirmed by Credit Suisse Group
Amazon.com, Inc. (NASDAQ:AMZN)‘s stock had its “outperform” rating restated by equities researchers at Credit Suisse Group in a report released on Wednesday, The Fly reports. They presently have a $1,350.00 price target on the e-commerce giant’s stock, up from their prior price target of $1,100.00. Credit Suisse Group’s price target suggests a potential upside of 36.75% from the stock’s current price.
A number of other equities research analysts have also recently commented on AMZN. UBS AG reaffirmed a “buy” rating and set a $1,100.00 price objective on shares of Amazon.com in a research note on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and set a $1,275.00 price objective on shares of Amazon.com in a research note on Wednesday, August 9th. Cowen and Company reiterated an “outperform” rating and set a $1,125.00 target price on shares of Amazon.com in a report on Thursday, August 10th. Piper Jaffray Companies reiterated an “overweight” rating and set a $1,200.00 target price on shares of Amazon.com in a report on Thursday, August 10th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $1,190.00 target price on shares of Amazon.com in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-eight have issued 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 target price of $1,115.21.
Shares of Amazon.com (AMZN) opened at 987.20 on Wednesday. The stock’s 50 day moving average price is $968.03 and its 200 day moving average price is $965.03. The stock has a market capitalization of $474.23 billion, a P/E ratio of 251.07 and a beta of 1.47. Amazon.com has a one year low of $710.10 and a one year high of $1,083.31.
Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 27th. The e-commerce giant reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($1.00). Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The company had revenue of $37.96 billion for the quarter, compared to analyst estimates of $37.18 billion. During the same period last year, the firm earned $1.78 earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, analysts forecast that Amazon.com will post $3.66 EPS for the current year.
In other news, VP Shelley Reynolds sold 544 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $986.52, for a total transaction of $536,666.88. Following the transaction, the vice president now owns 6,533 shares of the company’s stock, valued at approximately $6,444,935.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey A. Wilke sold 710 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $981.74, for a total transaction of $697,035.40. Following the transaction, the chief executive officer now directly owns 15,312 shares in the company, valued at approximately $15,032,402.88. The disclosure for this sale can be found here. Insiders have sold a total of 9,083 shares of company stock worth $8,874,850 in the last three months. Insiders own 17.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AMZN. Harbour Capital Advisors LLC boosted its position in shares of Amazon.com by 100,947.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,302,872 shares of the e-commerce giant’s stock worth $2,379,000 after purchasing an additional 2,300,593 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Amazon.com by 1,045.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,775,556 shares of the e-commerce giant’s stock worth $1,718,711,000 after purchasing an additional 1,620,588 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Amazon.com by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 26,863,386 shares of the e-commerce giant’s stock worth $26,003,758,000 after purchasing an additional 764,115 shares in the last quarter. BlackRock Inc. boosted its position in shares of Amazon.com by 2.4% during the 2nd quarter. BlackRock Inc. now owns 23,925,821 shares of the e-commerce giant’s stock worth $23,160,193,000 after purchasing an additional 554,990 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Amazon.com by 125.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 822,827 shares of the e-commerce giant’s stock valued at $796,497,000 after acquiring an additional 457,300 shares in the last quarter. 60.77% of the stock is currently owned by institutional investors.
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.
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