Amazon.com, Inc. (AMZN) Earns “Buy” Rating from Cantor Fitzgerald
Amazon.com, Inc. (NASDAQ:AMZN)‘s stock had its “buy” rating reissued by investment analysts at Cantor Fitzgerald in a report issued on Wednesday. They presently have a $1,150.00 target price on the e-commerce giant’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 12.74% from the stock’s current price.
The analysts wrote, “Solid top-line growth expected to continue. Our 2Q17 revenue, EBITDA, and GAAP EPS estimates are $37.240B (+22.5% Y/Y), $4.630B (12.4% margin), and $1.29 vs. consensus (FactSet) estimates of $37.20B, $4.64B, and $1.41, respectively. We expect gross profit to increase 24.0% Y/Y to $13.914B, for a gross margin of 37.4% (up 50bps Y/Y), reflecting a higher mix of AWS, 3P, and digital, partially offset by aggressive investment in devices, content, and fulfillment.””
Several other equities analysts have also commented on the company. Zacks Investment Research lowered Amazon.com from a “hold” rating to a “strong sell” rating in a research note on Monday, July 24th. Macquarie restated a “buy” rating on shares of Amazon.com in a research note on Monday, July 24th. KeyCorp reiterated a “hold” rating on shares of Amazon.com in a research note on Sunday, July 23rd. Vetr lowered Amazon.com from a “strong-buy” rating to a “buy” rating and set a $1,132.46 target price on the stock. in a research note on Tuesday, July 18th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $1,135.00 target price (down previously from $1,150.00) on shares of Amazon.com in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and forty-five have issued a buy rating to the stock. Amazon.com presently has a consensus rating of “Buy” and a consensus target price of $1,056.10.
Shares of Amazon.com (NASDAQ:AMZN) traded down 2.89% during trading on Wednesday, reaching $990.59. 6,007,204 shares of the company were exchanged. The firm has a market capitalization of $475.86 billion, a P/E ratio of 251.93 and a beta of 1.48. The firm’s 50 day moving average is $998.12 and its 200 day moving average is $914.29. Amazon.com has a 1-year low of $710.10 and a 1-year high of $1,083.31.
Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 27th. The e-commerce giant reported $0.40 EPS for the quarter, missing the consensus estimate of $1.40 by $1.00. The firm had revenue of $37.96 billion for the quarter, compared to analysts’ expectations of $37.18 billion. Amazon.com had a net margin of 1.28% and a return on equity of 9.38%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.78 EPS. On average, equities analysts anticipate that Amazon.com will post $6.72 EPS for the current fiscal year.
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In other news, insider David Zapolsky sold 505 shares of the 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 transaction, the insider now owns 2,018 shares in the company, valued at approximately $1,910,218.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey A. Wilke sold 710 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $985.25, for a total value of $699,527.50. Following the completion of the transaction, the chief executive officer now owns 10,000 shares in the company, valued at approximately $9,852,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,014,090 shares of company stock worth $954,546,394. Company insiders own 17.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Amazon.com during the fourth quarter worth approximately $2,736,365,000. Harbour Capital Advisors LLC increased its position in Amazon.com by 100,947.5% in the second quarter. Harbour Capital Advisors LLC now owns 2,302,872 shares of the e-commerce giant’s stock worth $2,379,000 after buying an additional 2,300,593 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. acquired a new position in Amazon.com during the fourth quarter worth approximately $335,571,000. Discovery Capital Management LLC CT increased its position in 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 worth $358,574,000 after buying an additional 258,595 shares during the last quarter. Finally, State Street Corp increased its position in 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 worth $14,667,392,000 after buying an additional 186,756 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.
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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