Cowen Reiterates “Outperform” Rating for Amazon.com (AMZN)
Amazon.com (NASDAQ:AMZN)‘s stock had its “outperform” rating reaffirmed by equities researchers at Cowen in a note issued to investors on Thursday, The Fly reports. They currently have a $1,500.00 price objective on the e-commerce giant’s stock, up from their prior price objective of $1,225.00. Cowen’s target price would indicate a potential upside of 30.17% from the stock’s previous close.
A number of other research firms also recently issued reports on AMZN. Credit Suisse Group restated an “outperform” rating on shares of Amazon.com in a research note on Thursday, August 31st. Monness Crespi & Hardt upgraded Amazon.com from a “neutral” rating to a “buy” rating and set a $1,250.00 price target on the stock in a research note on Friday, October 27th. Leerink Swann restated a “buy” rating on shares of Amazon.com in a research note on Monday, October 30th. TheStreet upgraded Amazon.com from a “c+” rating to a “b-” rating in a research note on Tuesday, November 7th. Finally, Goldman Sachs Group restated a “buy” rating on shares of Amazon.com in a research note on Monday. Four investment analysts have rated the stock with a hold rating and fifty have assigned a buy rating to the company’s stock. Amazon.com presently has an average rating of “Buy” and a consensus price target of $1,219.02.
Amazon.com (NASDAQ:AMZN) opened at $1,152.35 on Thursday. Amazon.com has a 1-year low of $747.70 and a 1-year high of $1,213.41. The company has a market capitalization of $550,090.81, a PE ratio of 289.74, a PEG ratio of 14.30 and a beta of 1.47. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.03 and a quick ratio of 0.74.
In other Amazon.com news, CEO Jeffrey P. Bezos sold 391,110 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $1,103.53, for a total transaction of $431,601,618.30. Following the transaction, the chief executive officer now owns 79,891,433 shares in the company, valued at $88,162,593,058.49. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Tom A. Alberg sold 835 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $1,202.74, for a total value of $1,004,287.90. Following the completion of the transaction, the director now owns 17,114 shares in the company, valued at approximately $20,583,692.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 399,538 shares of company stock worth $441,142,749. 17.70% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in AMZN. Whitnell & Co. boosted its position in shares of Amazon.com by 581.3% during the third quarter. Whitnell & Co. now owns 109 shares of the e-commerce giant’s stock worth $105,000 after buying an additional 93 shares during the period. Vestor Capital LLC boosted its position in shares of Amazon.com by 10.1% during the second quarter. Vestor Capital LLC now owns 109 shares of the e-commerce giant’s stock worth $106,000 after buying an additional 10 shares during the period. Clear Investment Research LLC boosted its position in shares of Amazon.com by 73,100.0% during the second quarter. Clear Investment Research LLC now owns 732 shares of the e-commerce giant’s stock worth $107,000 after buying an additional 731 shares during the period. WealthTrust Arizona LLC boosted its position in shares of Amazon.com by 2.7% during the second quarter. WealthTrust Arizona LLC now owns 114 shares of the e-commerce giant’s stock worth $110,000 after buying an additional 3 shares during the period. Finally, LeJeune Puetz Investment Counsel LLC acquired a new position in shares of Amazon.com during the second quarter worth approximately $116,000. 59.79% of the stock is owned by hedge funds and other 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.
Receive News & Ratings for Amazon.com Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com Inc. and related companies with MarketBeat.com's FREE daily email newsletter.