Amazon.com (NASDAQ:AMZN) PT Raised to $3,675.00

Amazon.com (NASDAQ:AMZN) had its price objective upped by equities research analysts at Benchmark from $2,650.00 to $3,675.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm presently has a “buy” rating on the e-commerce giant’s stock. Benchmark’s price target points to a potential upside of 16.13% from the stock’s current price.

A number of other research analysts have also commented on AMZN. Stifel Nicolaus lifted their price objective on shares of Amazon.com from $3,300.00 to $3,500.00 and gave the company a “buy” rating in a research note on Friday. Tigress Financial restated a “buy” rating on shares of Amazon.com in a research note on Wednesday, April 8th. Bank of America lifted their price objective on shares of Amazon.com from $3,000.00 to $3,280.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Needham & Company LLC started coverage on shares of Amazon.com in a research note on Wednesday, June 24th. They set a “buy” rating and a $3,200.00 price target on the stock. Finally, Wedbush reiterated a “buy” rating and set a $3,500.00 price target (up from $3,050.00) on shares of Amazon.com in a research note on Monday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $3,240.51.

Shares of AMZN opened at $3,164.68 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.08 and a quick ratio of 0.84. The stock has a market cap of $1,578.47 billion, a PE ratio of 121.67, a price-to-earnings-growth ratio of 5.83 and a beta of 1.32. Amazon.com has a 1-year low of $1,626.03 and a 1-year high of $3,344.29. The firm has a fifty day moving average price of $2,884.55 and a 200 day moving average price of $2,314.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $10.30 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $8.56. The company had revenue of $88.91 billion for the quarter, compared to analyst estimates of $81.56 billion. Amazon.com had a net margin of 4.10% and a return on equity of 21.51%. As a group, equities analysts expect that Amazon.com will post 20.12 EPS for the current fiscal year.

In related news, CEO Andrew R. Jassy sold 6,945 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $2,256.50, for a total transaction of $15,671,392.50. Following the transaction, the chief executive officer now owns 93,105 shares of the company’s stock, valued at $210,091,432.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Indra K. Nooyi acquired 27 shares of Amazon.com stock in a transaction that occurred on Wednesday, July 1st. The shares were purchased at an average cost of $2,806.80 per share, for a total transaction of $75,783.60. Following the purchase, the director now directly owns 707 shares of the company’s stock, valued at approximately $1,984,407.60. The disclosure for this purchase can be found here. Corporate insiders own 16.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Group Holdings Inc. purchased a new position in shares of Amazon.com during the first quarter valued at approximately $294,639,000. Geode Capital Management LLC increased its position in Amazon.com by 2.5% during the first quarter. Geode Capital Management LLC now owns 6,048,684 shares of the e-commerce giant’s stock worth $11,768,454,000 after purchasing an additional 147,641 shares during the last quarter. Capital International Investors increased its position in Amazon.com by 7.3% during the first quarter. Capital International Investors now owns 4,599,769 shares of the e-commerce giant’s stock worth $8,968,262,000 after purchasing an additional 312,549 shares during the last quarter. Capital Research Global Investors increased its position in Amazon.com by 10.7% during the first quarter. Capital Research Global Investors now owns 4,501,995 shares of the e-commerce giant’s stock worth $8,777,634,000 after purchasing an additional 435,331 shares during the last quarter. Finally, Capital World Investors increased its position in Amazon.com by 11.4% during the first quarter. Capital World Investors now owns 4,125,258 shares of the e-commerce giant’s stock worth $8,043,108,000 after purchasing an additional 423,738 shares during the last quarter. 64.54% of the stock is currently 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 third-party sellers through physical stores and online stores.

See Also: Net Income

The Fly

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