Credit Suisse Group Reaffirms Outperform Rating for Amazon.com, Inc. (AMZN)
Amazon.com, Inc. (NASDAQ:AMZN)‘s stock had its “outperform” rating reiterated by analysts at Credit Suisse Group in a research note issued on Thursday.
Several other research analysts have also issued reports on the stock. Instinet reduced their target price on shares of Amazon.com from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research note on Friday, June 16th. Loop Capital reaffirmed a “buy” rating on shares of Amazon.com in a research note on Thursday, June 8th. Vetr lowered shares of 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. KeyCorp reaffirmed a “hold” rating on shares of Amazon.com in a research note on Monday. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Amazon.com in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,084.33.
Shares of Amazon.com (AMZN) traded up 1.29% during mid-day trading on Thursday, hitting $980.07. 2,258,041 shares of the stock were exchanged. The company’s 50-day moving average is $993.73 and its 200-day moving average is $935.81. Amazon.com has a 1-year low of $710.10 and a 1-year high of $1,083.31. The firm has a market cap of $470.81 billion, a price-to-earnings ratio of 249.25 and a beta of 1.48.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, July 27th. The e-commerce giant reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by $1.00. Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The company had revenue of $37.96 billion for the quarter, compared to the consensus estimate of $37.18 billion. During the same period in the prior year, the company earned $1.78 EPS. The firm’s revenue was up 24.8% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com will post $3.82 earnings per share for the current fiscal year.
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In other Amazon.com news, CEO Jeffrey A. Wilke sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $955.20, for a total value of $2,674,560.00. Following the completion of the transaction, the chief executive officer now owns 10,000 shares in the company, valued at approximately $9,552,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 544 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $986.52, for a total value of $536,666.88. Following the completion of the transaction, the vice president now owns 6,533 shares of the company’s stock, valued at approximately $6,444,935.16. The disclosure for this sale can be found here. Insiders have sold a total of 14,463 shares of company stock valued at $14,294,906 in the last quarter. 17.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Amazon.com by 2.9% in the second quarter. Vanguard Group Inc. now owns 26,863,386 shares of the e-commerce giant’s stock valued at $26,003,758,000 after buying an additional 764,115 shares in the last quarter. BlackRock Inc. increased its position in shares of Amazon.com by 2.4% in the second quarter. BlackRock Inc. now owns 23,925,821 shares of the e-commerce giant’s stock valued at $23,160,193,000 after buying an additional 554,990 shares in the last quarter. State Street Corp increased its position 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 in the last quarter. Capital Research Global Investors increased its position in shares of Amazon.com by 0.4% in the second quarter. Capital Research Global Investors now owns 10,711,772 shares of the e-commerce giant’s stock valued at $10,368,995,000 after buying an additional 40,068 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Amazon.com by 1.7% in the second quarter. TIAA CREF Investment Management LLC now owns 2,828,302 shares of the e-commerce giant’s stock valued at $2,737,796,000 after buying an additional 46,800 shares in the last quarter. Institutional investors and hedge funds own 60.79% 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 Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.
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