Amazon.com Inc. (AMZN) Earns Outperform Rating from Sanford C. Bernstein
Sanford C. Bernstein reaffirmed their outperform rating on shares of Amazon.com Inc. (NASDAQ:AMZN) in a report published on Friday morning. They currently have a $1,000.00 target price on the e-commerce giant’s stock.
A number of other analysts have also recently weighed in on the company. Needham & Company LLC reaffirmed a hold rating on shares of Amazon.com in a research report on Monday, June 27th. Oppenheimer Holdings Inc. increased their price objective on Amazon.com from $780.00 to $930.00 and gave the stock a buy rating in a research report on Tuesday, June 7th. Piper Jaffray Cos. reaffirmed a buy rating and set a $800.00 price objective on shares of Amazon.com in a research report on Sunday, July 31st. Raymond James Financial Inc. reaffirmed a buy rating and set a $770.00 price objective on shares of Amazon.com in a research report on Wednesday, June 8th. Finally, Pacific Crest reaffirmed a buy rating and set a $820.00 price objective on shares of Amazon.com in a research report on Friday, July 15th. Seven analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $864.64.
Shares of Amazon.com (NASDAQ:AMZN) opened at 789.74 on Friday. The firm has a market capitalization of $374.39 billion, a price-to-earnings ratio of 196.40 and a beta of 1.11. Amazon.com has a 52 week low of $474.00 and a 52 week high of $790.79. The stock has a 50 day moving average price of $768.87 and a 200-day moving average price of $696.70.
Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.67. The firm earned $30.40 billion during the quarter, compared to analysts’ expectations of $29.54 billion. Amazon.com had a return on equity of 13.52% and a net margin of 1.60%. The business’s revenue was up 31.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. On average, analysts anticipate that Amazon.com will post $5.76 EPS for the current year.
In other news, CEO Jeffrey P. Bezos sold 1,000,000 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $756.74, for a total value of $756,740,000.00. Following the transaction, the chief executive officer now directly owns 81,871,067 shares of the company’s stock, valued at $61,955,111,241.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey M. Blackburn sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $760.98, for a total transaction of $7,609,800.00. Following the completion of the transaction, the insider now directly owns 55,887 shares in the company, valued at $42,528,889.26. The disclosure for this sale can be found here. Company insiders own 17.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. LPL Financial LLC increased its position in Amazon.com by 24.5% in the first quarter. LPL Financial LLC now owns 105,035 shares of the e-commerce giant’s stock worth $61,567,000 after buying an additional 20,700 shares during the period. Acadian Asset Management LLC increased its position in 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 worth $83,882,000 after buying an additional 9,640 shares during the period. Prudential PLC increased its position in Amazon.com by 5.7% in the first quarter. Prudential PLC now owns 105,738 shares of the e-commerce giant’s stock worth $62,771,000 after buying an additional 5,657 shares during the period. British Columbia Investment Management Corp increased its position in 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 worth $146,504,000 after buying an additional 2,602 shares during the period. Finally, Suvretta Capital Management LLC bought a new position in Amazon.com during the first quarter worth $147,407,000. 65.44% 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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