Piper Jaffray Cos. Reiterates “Overweight” Rating for Amazon.com Inc. (AMZN)
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “overweight” rating restated by equities research analysts at Piper Jaffray Cos. in a note issued to investors on Tuesday. They currently have a $900.00 target price on the e-commerce giant’s stock. Piper Jaffray Cos.’s price objective would suggest a potential upside of 19.86% from the company’s previous close.
Several other equities research analysts have also weighed in on the stock. Evercore ISI reaffirmed a “buy” rating and issued a $990.00 target price on shares of Amazon.com in a report on Monday. Citigroup Inc. reduced their price target on shares of Amazon.com from $965.00 to $960.00 and set a “buy” rating on the stock in a research report on Monday. William Blair reiterated a “buy” rating and set a $719.07 price target on shares of Amazon.com in a research report on Wednesday, November 16th. TheStreet downgraded shares of Amazon.com from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Finally, Zacks Investment Research downgraded shares of Amazon.com from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Six equities research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $911.75.
Amazon.com (NASDAQ:AMZN) opened at 750.57 on Tuesday. The stock has a 50 day moving average of $789.54 and a 200 day moving average of $761.26. The stock has a market capitalization of $356.65 billion, a P/E ratio of 171.95 and a beta of 1.51. 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 earnings results on Thursday, October 27th. The e-commerce giant reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.28. Amazon.com had a return on equity of 13.47% and a net margin of 1.64%. The firm earned $32.71 billion during the quarter, compared to the consensus estimate of $32.69 billion. During the same period in the previous year, the company posted $0.17 EPS. The firm’s revenue for the quarter was up 29.0% compared to the same quarter last year. On average, equities research analysts forecast that Amazon.com will post $4.78 EPS for the current year.
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In other news, CEO Andrew R. Jassy sold 14,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $800.00, for a total transaction of $11,200,000.00. Following the completion of the transaction, the chief executive officer now owns 68,141 shares of the company’s stock, valued at $54,512,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of AMZN. Bartlett & Co. LLC raised its position in shares of Amazon.com by 7.1% in the third quarter. Bartlett & Co. LLC now owns 120 shares of the e-commerce giant’s stock valued at $100,000 after buying an additional 8 shares during the last quarter. 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 last quarter. 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 last quarter. Kings Point Capital Management acquired a new position in shares of Amazon.com during the second quarter valued at approximately $109,000. Finally, D. Scott Neal Inc. raised its position in shares of Amazon.com by 3,000.0% in the third quarter. D. Scott Neal Inc. now owns 155 shares of the e-commerce giant’s stock valued at $130,000 after buying an additional 150 shares during the last quarter. 64.77% of the stock is 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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