KeyCorp Reaffirms “Overweight” Rating for Amazon.com Inc. (AMZN)
KeyCorp reiterated their overweight rating on shares of Amazon.com Inc. (NASDAQ:AMZN) in a research report sent to investors on Wednesday. The brokerage currently has a $847.00 target price on the e-commerce giant’s stock.
Other equities analysts have also issued research reports about the stock. JMP Securities reiterated a buy rating and issued a $775.00 price target on shares of Amazon.com in a report on Saturday, July 9th. Deutsche Bank AG reiterated a buy rating and issued a $900.00 price target on shares of Amazon.com in a report on Sunday, July 10th. Bank of America Corp. reiterated a buy rating and issued a $840.00 price target on shares of Amazon.com in a report on Sunday, July 17th. RBC Capital Markets set a $840.00 price target on shares of Amazon.com and gave the company a buy rating in a report on Friday, July 29th. Finally, Vetr upgraded shares of Amazon.com from a hold rating to a buy rating and set a $744.13 price target on the stock in a report on Monday, June 20th. Five equities research 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. Amazon.com has an average rating of Buy and a consensus target price of $897.87.
Amazon.com (NASDAQ:AMZN) opened at 822.96 on Wednesday. Amazon.com has a 12-month low of $474.00 and a 12-month high of $847.21. The stock has a market cap of $390.14 billion, a price-to-earnings ratio of 204.67 and a beta of 1.19. The company has a 50-day moving average price of $800.02 and a 200 day moving average price of $726.41.
Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.67. The company had revenue of $30.40 billion for the quarter, compared to analyst estimates of $29.54 billion. Amazon.com had a net margin of 1.60% and a return on equity of 13.52%. Amazon.com’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter last year, the business earned $0.19 EPS. On average, equities research analysts predict that Amazon.com will post $5.85 EPS for the current year.
In other news, CEO Andrew R. Jassy sold 2,305 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $769.75, for a total value of $1,774,273.75. Following the transaction, the chief executive officer now 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 can be accessed through the SEC website. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $756.74, for a total transaction of $756,740,000.00. Following the completion of the transaction, the chief executive officer now directly owns 81,871,067 shares in the company, valued at approximately $61,955,111,241.58. The disclosure for this sale can be found here. 17.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pathstone Family Office LLC raised its position 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 valued at $105,000 after buying an additional 70 shares during the period. Kistler Tiffany Companies LLC raised its position 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 valued at $108,000 after buying an additional 136 shares during the period. Kings Point Capital Management acquired a new position in shares of Amazon.com during the second quarter valued at about $109,000. Krilogy Financial LLC raised its position 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 valued at $142,000 after buying an additional 121 shares during the period. Finally, West Oak Capital LLC raised its position 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 valued at $155,000 after buying an additional 111 shares during the period. 65.47% of the stock is currently owned by institutional investors.
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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