Amazon.com (NASDAQ:AMZN) had its target price raised by equities researchers at Piper Jaffray Companies to $1,650.00 in a research report issued to clients and investors on Friday. The brokerage presently has an “overweight” rating on the e-commerce giant’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 15.39% from the company’s current price.
AMZN has been the topic of several other research reports. Morgan Stanley reiterated a “buy” rating and issued a $1,150.00 price objective on shares of Amazon.com in a research note on Tuesday, October 10th. Vetr cut shares of Amazon.com from a “strong-buy” rating to a “buy” rating and set a $1,088.80 price objective on the stock. in a research note on Tuesday, October 10th. Credit Suisse Group reiterated an “outperform” rating and issued a $1,350.00 price objective (up previously from $1,100.00) on shares of Amazon.com in a research note on Wednesday, October 11th. Canaccord Genuity reiterated a “buy” rating and issued a $1,200.00 price objective on shares of Amazon.com in a research note on Wednesday, October 11th. Finally, Atlantic Securities reiterated a “buy” rating on shares of Amazon.com in a research note on Friday, October 13th. Six analysts have rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $1,385.74.
Shares of Amazon.com (NASDAQ:AMZN) traded up $39.95 during midday trading on Friday, hitting $1,429.95. 11,012,011 shares of the stock were exchanged, compared to its average volume of 4,090,000. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 1.03. The stock has a market cap of $708,860.00, a P/E ratio of 231.76, a PEG ratio of 8.02 and a beta of 1.63. Amazon.com has a 12-month low of $803.00 and a 12-month high of $1,498.00.
In related news, Chief Executive Officer of Worldwide Consumer Jeffrey A. Wilke sold 2,800 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $1,160.34, for a total value of $3,248,952.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $11,603,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Shelley Reynolds sold 544 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $1,126.27, for a total transaction of $612,690.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,228 shares of company stock valued at $12,790,082. Insiders own 17.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of AMZN. Probity Advisors Inc. boosted its stake in Amazon.com by 0.6% during the second quarter. Probity Advisors Inc. now owns 320 shares of the e-commerce giant’s stock worth $310,000 after buying an additional 2 shares during the period. Venturi Wealth Management LLC boosted its stake in Amazon.com by 0.3% during the second quarter. Venturi Wealth Management LLC now owns 632 shares of the e-commerce giant’s stock worth $612,000 after buying an additional 2 shares during the period. Regis Management CO LLC boosted its stake in Amazon.com by 0.9% during the second quarter. Regis Management CO LLC now owns 231 shares of the e-commerce giant’s stock worth $224,000 after buying an additional 2 shares during the period. Hall Capital Management Co. Inc. boosted its stake in Amazon.com by 0.8% during the second quarter. Hall Capital Management Co. Inc. now owns 403 shares of the e-commerce giant’s stock worth $390,000 after buying an additional 3 shares during the period. Finally, Noesis Capital Mangement Corp boosted its stake in Amazon.com by 0.8% during the second quarter. Noesis Capital Mangement Corp now owns 505 shares of the e-commerce giant’s stock worth $489,000 after buying an additional 4 shares during the period. 59.80% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This story was posted by American Banking and Market News and is the sole property of of American Banking and Market News. If you are viewing this story on another site, it was illegally copied and reposted in violation of international copyright laws. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/02/03/amazon-com-amzn-pt-raised-to-1650-00.html.
Amazon.com Company Profile
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.
