Amazon.com Inc. (AMZN) Rating Reiterated by RBC Capital Markets
Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “outperform” rating restated by RBC Capital Markets in a research report issued to clients and investors on Friday. They presently have a $1,000.00 price target on the e-commerce giant’s stock, up from their previous price target of $840.00. RBC Capital Markets’ price target would indicate a potential upside of 29.02% from the stock’s previous close.
A number of other research firms also recently commented on AMZN. Evercore ISI reaffirmed a “buy” rating and set a $1,015.00 target price (up previously from $930.00) on shares of Amazon.com in a report on Friday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,000.00 target price on shares of Amazon.com in a report on Friday. Royal Bank Of Canada decreased their target price on Amazon.com from $1,000.00 to $840.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley reaffirmed an “overweight” rating on shares of Amazon.com in a report on Thursday, September 15th. Finally, MKM Partners reaffirmed a “buy” rating and set a $995.00 target price on shares of Amazon.com in a report on Monday, September 12th. Seven analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $864.64.
Shares of Amazon.com (NASDAQ:AMZN) opened at 775.10 on Friday. The stock has a market capitalization of $367.45 billion, a price-to-earnings ratio of 192.76 and a beta of 1.11. The firm’s 50-day moving average is $767.68 and its 200-day moving average is $694.54. Amazon.com has a one year low of $474.00 and a one year high of $790.79.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.67. The business earned $30.40 billion during the quarter, compared to the consensus estimate of $29.54 billion. Amazon.com had a return on equity of 13.52% and a net margin of 1.60%. The company’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. Equities research analysts forecast that Amazon.com will post $5.76 EPS for the current year.
In related news, CEO Jeffrey P. Bezos sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was 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 owns 81,871,067 shares in the company, valued at $61,955,111,241.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 2,305 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $769.75, for a total value of $1,774,273.75. Following the completion of the transaction, the chief executive officer now owns 84,446 shares in the company, valued at approximately $65,002,308.50. The disclosure for this sale can be found here. Company insiders own 17.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMZN. LPL Financial LLC boosted 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 valued at $61,567,000 after buying an additional 20,700 shares during the period. Acadian Asset Management LLC boosted 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 valued at $83,882,000 after buying an additional 9,640 shares during the period. Prudential PLC boosted 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 valued at $62,771,000 after buying an additional 5,657 shares during the period. British Columbia Investment Management Corp boosted 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 valued at $146,504,000 after buying an additional 2,602 shares during the period. Finally, Suvretta Capital Management LLC acquired a new position in Amazon.com during the first quarter valued at approximately $147,407,000. Institutional investors and hedge funds own 65.44% of the company’s stock.
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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