Amazon.com’s (AMZN) Buy Rating Reaffirmed at Deutsche Bank AG
Deutsche Bank AG reissued their buy rating on shares of Amazon.com Inc. (NASDAQ:AMZN) in a research report released on Wednesday morning. The brokerage currently has a $985.00 target price on the e-commerce giant’s stock.
AMZN has been the topic of several other research reports. Goldman Sachs Group Inc. restated a buy rating and issued a $920.00 price target on shares of Amazon.com in a research note on Thursday, September 8th. Mizuho increased their target price on Amazon.com from $855.00 to $950.00 and gave the company a buy rating in a research note on Friday, September 23rd. Evercore ISI reiterated a buy rating and set a $1,015.00 target price (up from $930.00) on shares of Amazon.com in a research note on Friday, September 16th. Vetr upgraded Amazon.com from a hold rating to a buy rating and set a $880.16 target price on the stock in a research note on Thursday, October 6th. Finally, Piper Jaffray Cos. reiterated an overweight rating and set a $900.00 target price on shares of Amazon.com in a research note on Wednesday, September 7th. Five analysts have rated the stock with a hold rating, forty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Amazon.com has an average rating of Buy and a consensus target price of $891.31.
Shares of Amazon.com (NASDAQ:AMZN) traded down 1.4227% on Wednesday, reaching $822.2237. The company’s stock had a trading volume of 1,351,659 shares. The firm’s 50 day moving average is $796.14 and its 200-day moving average is $723.94. The stock has a market cap of $389.79 billion, a P/E ratio of 204.4824 and a beta of 1.20. Amazon.com has a 52-week low of $474.00 and a 52-week high of $847.21.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.67. The company had revenue of $30.40 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 EPS. On average, equities research analysts forecast that Amazon.com will post $5.85 EPS for the current year.
In other Amazon.com news, CEO Andrew R. Jassy sold 2,305 shares of the firm’s 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 transaction, the chief executive officer now directly owns 84,446 shares of the company’s stock, valued at approximately $65,002,308.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $756.74, for a total transaction of $756,740,000.00. Following the transaction, the chief executive officer now directly owns 81,871,067 shares in the company, valued at $61,955,111,241.58. The disclosure for this sale can be found here. Corporate insiders own 17.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of AMZN. LPL Financial LLC increased its stake in shares of Amazon.com by 24.5% in the first quarter. LPL Financial LLC now owns 105,035 shares of the e-commerce giant’s stock valued at $61,567,000 after buying an additional 20,700 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Amazon.com by 9.0% in the second quarter. Acadian Asset Management LLC now owns 117,216 shares of the e-commerce giant’s stock valued at $83,882,000 after buying an additional 9,640 shares during the last quarter. Prudential PLC increased its stake in shares of Amazon.com by 5.7% in the first quarter. Prudential PLC now owns 105,738 shares of the e-commerce giant’s stock valued at $62,771,000 after buying an additional 5,657 shares during the last quarter. Suvretta Capital Management LLC purchased a new stake in shares of Amazon.com during the first quarter valued at $147,407,000. Finally, British Columbia Investment Management Corp increased its stake in shares of Amazon.com by 1.3% in the second quarter. British Columbia Investment Management Corp now owns 204,723 shares of the e-commerce giant’s stock valued at $146,504,000 after buying an additional 2,602 shares during the last quarter. 65.44% of the stock is currently owned by institutional investors.
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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