Amazon.com’s (AMZN) Outperform Rating Reaffirmed at Cowen and Company
AMZN has been the subject of a number of other reports. MKM Partners reiterated a buy rating and set a $1,095.00 price target (up from $995.00) on shares of Amazon.com in a report on Monday, May 8th. Maxim Group reissued a buy rating and set a $1,000.00 target price (up previously from $940.00) on shares of Amazon.com in a research note on Thursday, April 20th. Vetr lowered Amazon.com from a buy rating to a hold rating and set a $948.53 target price on the stock. in a research note on Thursday, April 27th. Instinet reissued a buy rating on shares of Amazon.com in a research note on Friday, June 2nd. Finally, Royal Bank Of Canada reissued an outperform rating and set a $900.00 target price on shares of Amazon.com in a research note on Monday, April 17th. Five research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Amazon.com currently has a consensus rating of Buy and an average target price of $1,022.31.
Amazon.com (NASDAQ AMZN) traded up 0.82% during mid-day trading on Friday, hitting $1010.04. The stock had a trading volume of 3,712,587 shares. The firm’s 50-day moving average price is $983.46 and its 200 day moving average price is $880.70. The company has a market cap of $482.77 billion, a PE ratio of 190.21 and a beta of 1.48. Amazon.com has a one year low of $710.10 and a one year high of $1,017.00.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, April 27th. The e-commerce giant reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.45. The business had revenue of $35.71 billion during the quarter, compared to analysts’ expectations of $35.31 billion. Amazon.com had a return on equity of 13.72% and a net margin of 1.81%. The company’s revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. On average, equities research analysts anticipate that Amazon.com will post $6.68 EPS for the current year.
In other news, insider David Zapolsky sold 505 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $946.59, for a total value of $478,027.95. Following the completion of the sale, the insider now owns 2,018 shares of the company’s stock, valued at $1,910,218.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tom A. Alberg sold 670 shares of the company’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $940.45, for a total value of $630,101.50. Following the completion of the sale, the director now directly owns 21,855 shares of the company’s stock, valued at approximately $20,553,534.75. The disclosure for this sale can be found here. Insiders sold 1,014,090 shares of company stock valued at $954,546,394 in the last ninety days. Company insiders own 17.70% of the company’s stock.
Several large investors have recently modified their holdings of AMZN. Norges Bank bought a new stake in shares of Amazon.com during the fourth quarter valued at $2,736,365,000. Asset Management One Co. Ltd. increased its stake in shares of Amazon.com by 728.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 696,134 shares of the e-commerce giant’s stock valued at $522,899,000 after buying an additional 612,153 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. bought a new stake in shares of Amazon.com during the fourth quarter valued at $335,571,000. Discovery Capital Management LLC CT increased its stake in shares of Amazon.com by 117.8% in the fourth quarter. Discovery Capital Management LLC CT now owns 478,182 shares of the e-commerce giant’s stock valued at $358,574,000 after buying an additional 258,595 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Amazon.com by 1.1% in the first quarter. State Street Corp now owns 16,544,538 shares of the e-commerce giant’s stock valued at $14,667,392,000 after buying an additional 186,756 shares during the last quarter. 62.49% of the stock is owned by institutional investors.
Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.
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