Amazon.com Inc. (AMZN) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Amazon.com Inc. (NASDAQ:AMZN) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $914.00 price objective on the e-commerce giant’s stock.
According to Zacks, “Amazon is one of the largest online retailers in the world. The company reported better-than-expected second quarter results surpassing our estimates on revenues and earnings. Amazon is driving value across all its businesses and especially the retail business remains very hard to beat on price, choice and convenience. The company has a solid loyalty system in Prime and its FBA strategy, and content addition continues to add selection to Prime memberships. The AWS generates much higher margins than retail, so it has a very positive impact on Amazon’s profitability. Devices and IoT is also a potential growth area. However, Prime saturation in the U.S. market and competition in online retail remains concern.”
Other research analysts have also issued reports about the company. Robert W. Baird initiated coverage on Amazon.com in a research report on Tuesday, May 31st. They set a buy rating for the company. MKM Partners raised their target price on Amazon.com from $800.00 to $850.00 and gave the stock a buy rating in a research report on Wednesday, June 1st. Sanford C. Bernstein reaffirmed a buy rating on shares of Amazon.com in a research report on Thursday, June 2nd. Raymond James Financial Inc. reaffirmed a buy rating and set a $770.00 target price on shares of Amazon.com in a research report on Wednesday, June 8th. Finally, Citigroup Inc. reaffirmed a buy rating and set a $780.00 target price on shares of Amazon.com in a research report on Tuesday, June 7th. Six investment analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company. Amazon.com presently has an average rating of Buy and a consensus target price of $885.11.
Amazon.com (NASDAQ:AMZN) opened at 837.31 on Wednesday. Amazon.com has a 52-week low of $474.00 and a 52-week high of $839.95. The company’s 50 day moving average price is $779.29 and its 200 day moving average price is $708.41. The company has a market cap of $396.95 billion, a P/E ratio of 208.23 and a beta of 1.19.
Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.67. The company earned $30.40 billion during 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%. Amazon.com’s revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS. Equities research analysts anticipate that Amazon.com will post $5.82 EPS for the current fiscal year.
In related news, insider Jeffrey M. Blackburn sold 10,000 shares of Amazon.com stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $760.98, for a total transaction of $7,609,800.00. Following the completion of the sale, the insider now 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 is available at this link. Also, VP Shelley Reynolds sold 625 shares of Amazon.com stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $770.10, for a total transaction of $481,312.50. Following the sale, the vice president now owns 6,519 shares of the company’s stock, valued at approximately $5,020,281.90. The disclosure for this sale can be found here. Corporate insiders own 17.70% of the company’s stock.
A number of large investors have recently made changes to their positions in AMZN. Pathstone Family Office LLC raised its stake in shares of Amazon.com by 92.1% in the second quarter. Pathstone Family Office LLC now owns 146 shares of the e-commerce giant’s stock worth $105,000 after buying an additional 70 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of Amazon.com by 906.7% in the second quarter. Kistler Tiffany Companies LLC now owns 151 shares of the e-commerce giant’s stock worth $108,000 after buying an additional 136 shares during the last quarter. Kings Point Capital Management bought a new stake in shares of Amazon.com during the second quarter worth $109,000. Krilogy Financial LLC raised its stake in shares of Amazon.com by 157.1% in the second quarter. Krilogy Financial LLC now owns 198 shares of the e-commerce giant’s stock worth $142,000 after buying an additional 121 shares during the last quarter. Finally, West Oak Capital LLC raised its stake in shares of Amazon.com by 105.7% in the second quarter. West Oak Capital LLC now owns 216 shares of the e-commerce giant’s stock worth $155,000 after buying an additional 111 shares during the last quarter. 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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