Citigroup Inc. Lowers Amazon.com Inc. (AMZN) Price Target to $960.00
Amazon.com Inc. (NASDAQ:AMZN) had its price objective cut by analysts at Citigroup Inc. from $965.00 to $960.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the e-commerce giant’s stock. Citigroup Inc.’s price objective would suggest a potential upside of 26.06% from the company’s previous close.
Several other equities analysts also recently weighed in on the company. Bank of America Corp. reaffirmed a “buy” rating and issued a $860.00 price objective on shares of Amazon.com in a research note on Monday, August 15th. KeyCorp reissued an “overweight” rating and set a $847.00 price target on shares of Amazon.com in a research report on Sunday, August 21st. Cowen and Company reissued an “outperform” rating and set a $960.00 price target (up previously from $900.00) on shares of Amazon.com in a research report on Monday, September 26th. Jefferies Group assumed coverage on Amazon.com in a research report on Monday, October 17th. They set a “buy” rating for the company. Finally, Goldman Sachs Group Inc. dropped their price target on Amazon.com from $1,050.00 to $920.00 and set a “buy” rating for the company in a research report on Monday, October 24th. Six investment analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $911.75.
Shares of Amazon.com (NASDAQ:AMZN) opened at 762.52 on Monday. Amazon.com has a 52-week low of $474.00 and a 52-week high of $847.21. The stock has a 50 day moving average price of $789.54 and a 200-day moving average price of $761.26. The stock has a market capitalization of $362.32 billion, a PE ratio of 174.69 and a beta of 1.51.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 27th. The e-commerce giant reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.80 by $0.28. Amazon.com had a net margin of 1.64% and a return on equity of 13.47%. The firm earned $32.71 billion during the quarter, compared to analysts’ expectations of $32.69 billion. During the same period in the previous year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. On average, equities research analysts anticipate that Amazon.com will post $4.78 EPS for the current fiscal year.
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In other news, CEO Andrew R. Jassy sold 14,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $800.00, for a total transaction of $11,200,000.00. Following the sale, the chief executive officer now directly owns 68,141 shares of the company’s stock, valued at $54,512,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Williams Jones & Associates LLC boosted its position in shares of Amazon.com by 22.7% in the second quarter. Williams Jones & Associates LLC now owns 24,801 shares of the e-commerce giant’s stock worth $17,748,000 after buying an additional 4,596 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Amazon.com by 4.3% in the second quarter. Schroder Investment Management Group now owns 562,819 shares of the e-commerce giant’s stock worth $402,765,000 after buying an additional 23,336 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of Amazon.com by 51.4% in the second quarter. First Citizens Bank & Trust Co. now owns 14,927 shares of the e-commerce giant’s stock worth $10,682,000 after buying an additional 5,068 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its position in shares of Amazon.com by 36.2% in the second quarter. Moody Lynn & Lieberson LLC now owns 21,065 shares of the e-commerce giant’s stock worth $15,075,000 after buying an additional 5,601 shares during the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. boosted its position in shares of Amazon.com by 1.0% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 631,630 shares of the e-commerce giant’s stock worth $452,007,000 after buying an additional 6,485 shares during the last quarter. 64.77% of the stock is currently owned by institutional investors and hedge funds.
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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