Amazon.com (NASDAQ:AMZN) Stock Rating Reaffirmed by Bank of America

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reissued by equities researchers at Bank of America in a research report issued on Monday, BenzingaRatingsTable reports. They presently have a $2,250.00 price target on the e-commerce giant’s stock, down from their prior price target of $2,350.00. Bank of America‘s price target indicates a potential upside of 27.43% from the stock’s previous close.

A number of other research firms have also recently issued reports on AMZN. KeyCorp reissued an “overweight” rating and set a $2,200.00 price objective (up previously from $2,100.00) on shares of Amazon.com in a research report on Monday, July 22nd. Barclays raised Amazon.com from an “outperform” rating to a “buy” rating in a research report on Monday, July 29th. Jefferies Financial Group set a $2,300.00 price objective on Amazon.com and gave the company a “buy” rating in a research report on Tuesday, October 15th. Deutsche Bank lifted their price objective on Amazon.com from $2,315.00 to $2,515.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Piper Jaffray Companies set a $2,225.00 price objective on Amazon.com and gave the company a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirty-nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $2,240.04.

Shares of AMZN stock opened at $1,765.73 on Monday. Amazon.com has a 1-year low of $1,307.00 and a 1-year high of $2,035.80. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $874.33 billion, a price-to-earnings ratio of 87.67, a P/E/G ratio of 2.27 and a beta of 1.54. The stock’s fifty day simple moving average is $1,773.16 and its 200-day simple moving average is $1,845.74.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, July 25th. The e-commerce giant reported $5.22 earnings per share for the quarter, missing analysts’ consensus estimates of $5.29 by ($0.07). Amazon.com had a net margin of 4.80% and a return on equity of 26.27%. The business had revenue of $63.40 billion for the quarter, compared to analysts’ expectations of $62.59 billion. During the same quarter in the prior year, the firm posted $5.07 EPS. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, sell-side analysts predict that Amazon.com will post 23.6 EPS for the current year.

In related news, CFO Brian T. Olsavsky sold 1,765 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $1,783.00, for a total transaction of $3,146,995.00. Following the completion of the transaction, the chief financial officer now owns 2,480 shares of the company’s stock, valued at approximately $4,421,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffrey M. Blackburn sold 7,144 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $1,791.40, for a total value of $12,797,761.60. Following the transaction, the senior vice president now directly owns 56,011 shares of the company’s stock, valued at approximately $100,338,105.40. The disclosure for this sale can be found here. Insiders sold 22,443 shares of company stock valued at $40,205,835 in the last ninety days. Insiders own 16.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Gulf International Bank UK Ltd increased its stake in Amazon.com by 0.5% during the second quarter. Gulf International Bank UK Ltd now owns 98,957 shares of the e-commerce giant’s stock valued at $187,387,000 after acquiring an additional 480 shares during the period. Gladstone Institutional Advisory LLC increased its stake in Amazon.com by 12.0% during the second quarter. Gladstone Institutional Advisory LLC now owns 1,742 shares of the e-commerce giant’s stock valued at $3,299,000 after acquiring an additional 186 shares during the period. Cornerstone Advisory LLC increased its stake in Amazon.com by 50.0% during the second quarter. Cornerstone Advisory LLC now owns 1,374 shares of the e-commerce giant’s stock valued at $2,602,000 after acquiring an additional 458 shares during the period. RB Capital Management LLC increased its stake in Amazon.com by 8.5% during the second quarter. RB Capital Management LLC now owns 1,339 shares of the e-commerce giant’s stock valued at $2,536,000 after acquiring an additional 105 shares during the period. Finally, Family Management Corp increased its stake in Amazon.com by 1.0% during the second quarter. Family Management Corp now owns 2,805 shares of the e-commerce giant’s stock valued at $5,312,000 after acquiring an additional 28 shares during the period. 55.73% of the stock is owned by institutional investors and hedge funds.

About Amazon.com

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 third-party sellers through physical stores and online stores.

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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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