Evercore ISI Reiterates “Buy” Rating for Amazon.com Inc. (AMZN)
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “buy” rating reiterated by equities research analysts at Evercore ISI in a research report issued on Friday. They currently have a $1,015.00 target price on the e-commerce giant’s stock, up from their previous target price of $930.00. Evercore ISI’s price objective indicates a potential upside of 30.95% from the stock’s current price.
AMZN has been the topic of a number of other research reports. Jefferies Group restated a “buy” rating and set a $865.00 price objective on shares of Amazon.com in a research note on Monday, June 27th. Zacks Investment Research upgraded Amazon.com from a “hold” rating to a “buy” rating and set a $774.00 price target on the stock in a research note on Tuesday, June 28th. Royal Bank Of Canada cut their price target on Amazon.com from $1,000.00 to $840.00 and set an “outperform” rating on the stock in a research note on Friday. William Blair initiated coverage on Amazon.com in a research note on Friday, June 10th. They issued an “outperform” rating on the stock. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $800.00 price target on shares of Amazon.com in a research note on Friday, May 27th. Seven investment analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $864.64.
Amazon.com (NASDAQ:AMZN) opened at 775.10 on Friday. The stock has a market cap of $367.45 billion, a P/E ratio of 192.76 and a beta of 1.11. The company’s 50-day moving average price is $767.68 and its 200-day moving average price is $694.54. Amazon.com has a 1-year low of $474.00 and a 1-year high of $790.79.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.67. The company had revenue of $30.40 billion for the quarter, compared to analysts’ expectations of $29.54 billion. Amazon.com had a return on equity of 13.52% and a net margin of 1.60%. The firm’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Analysts predict that Amazon.com will post $5.76 EPS for the current year.
In other Amazon.com news, insider Jeffrey M. Blackburn sold 10,000 shares of Amazon.com stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $760.98, for a total value of $7,609,800.00. Following the sale, the insider now directly owns 55,887 shares in the company, valued at approximately $42,528,889.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 2,305 shares of Amazon.com stock in a transaction on Monday, August 15th. The shares were sold at an average price of $769.75, for a total transaction of $1,774,273.75. Following the completion of the sale, the chief executive officer now owns 84,446 shares in the company, valued at $65,002,308.50. The disclosure for this sale can be found here. 17.70% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Cornerstone Advisors Inc. raised its stake in shares of Amazon.com by 0.4% in the second quarter. Cornerstone Advisors Inc. now owns 558 shares of the e-commerce giant’s stock valued at $399,000 after buying an additional 2 shares during the last quarter. Cadence Bank NA raised its stake in shares of Amazon.com by 0.4% in the second quarter. Cadence Bank NA now owns 497 shares of the e-commerce giant’s stock valued at $355,000 after buying an additional 2 shares during the last quarter. American Economic Planning Group Inc. ADV raised its position in Amazon.com by 0.6% in the second quarter. American Economic Planning Group Inc. ADV now owns 365 shares of the e-commerce giant’s stock valued at $261,000 after buying an additional 2 shares in the last quarter. First Niagara Bank raised its position in Amazon.com by 0.3% in the second quarter. First Niagara Bank now owns 1,330 shares of the e-commerce giant’s stock valued at $952,000 after buying an additional 4 shares in the last quarter. Finally, Hartford Financial Management Inc. raised its position in Amazon.com by 1.1% in the second quarter. Hartford Financial Management Inc. now owns 475 shares of the e-commerce giant’s stock valued at $339,000 after buying an additional 5 shares in the last quarter. Hedge funds and other institutional investors own 65.44% 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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