Amazon.com (AMZN) Earns Buy Rating from Argus
Argus reissued their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research note released on Thursday morning, Marketbeat.com reports. The firm currently has a $2,250.00 target price on the e-commerce giant’s stock, up from their prior target price of $2,100.00.
Several other equities research analysts have also recently weighed in on AMZN. MKM Partners upped their price target on Amazon.com to $1,840.00 and gave the company a buy rating in a research report on Tuesday, May 29th. BidaskClub upgraded Amazon.com from a buy rating to a strong-buy rating in a research report on Thursday, May 31st. Oppenheimer reiterated a buy rating on shares of Amazon.com in a research report on Friday, June 1st. SunTrust Banks reiterated a buy rating and set a $2,000.00 price target (up from $1,900.00) on shares of Amazon.com in a research report on Monday, June 4th. Finally, Morgan Stanley set a $1,700.00 price target on Amazon.com and gave the company a buy rating in a research report on Saturday, June 9th. Two research analysts have rated the stock with a hold rating and fifty have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $1,985.06.
Shares of AMZN opened at $1,915.01 on Thursday. Amazon.com has a twelve month low of $931.75 and a twelve month high of $2,050.50. The stock has a market cap of $934.03 billion, a PE ratio of 420.88, a P/E/G ratio of 3.99 and a beta of 1.60. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.70.
In other Amazon.com news, Director Tom A. Alberg sold 2,320 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $1,827.29, for a total value of $4,239,312.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas O. Ryder sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $1,783.81, for a total value of $8,919,050.00. Following the completion of the sale, the director now directly owns 10,752 shares of the company’s stock, valued at approximately $19,179,525.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,308 shares of company stock valued at $47,905,498. 16.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of AMZN. Lee Financial Co lifted its position in Amazon.com by 154.3% in the first quarter. Lee Financial Co now owns 89 shares of the e-commerce giant’s stock valued at $129,000 after purchasing an additional 54 shares during the last quarter. Lucia Wealth Services LLC raised its holdings in shares of Amazon.com by 50.0% during the second quarter. Lucia Wealth Services LLC now owns 90 shares of the e-commerce giant’s stock valued at $153,000 after acquiring an additional 30 shares in the last quarter. Santori & Peters Inc. bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $121,000. Taylor Hoffman Wealth Management bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $108,000. Finally, Point72 Asia Hong Kong Ltd bought a new position in shares of Amazon.com during the first quarter valued at approximately $145,000. 57.32% of the stock is owned by institutional investors and hedge funds.
Amazon.com Company Profile
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.
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