Amazon.com (NASDAQ:AMZN) PT Raised to $3,700.00

Amazon.com (NASDAQ:AMZN) had its price target hoisted by equities researchers at Wedbush from $3,500.00 to $3,700.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm currently has an “outperform” rating on the e-commerce giant’s stock. Wedbush’s target price would suggest a potential upside of 16.92% from the stock’s previous close.

Several other research analysts have also weighed in on AMZN. Jefferies Financial Group boosted their price target on Amazon.com from $3,100.00 to $3,800.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Raymond James boosted their price target on Amazon.com from $2,525.00 to $3,500.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank of Canada reissued a “buy” rating on shares of Amazon.com in a report on Tuesday, June 9th. Rowe boosted their target price on Amazon.com from $2,500.00 to $3,000.00 and gave the stock a “positive” rating in a report on Friday, May 1st. Finally, BidaskClub lowered Amazon.com from a “buy” rating to a “hold” rating in a report on Friday, July 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $3,240.51.

NASDAQ:AMZN opened at $3,164.68 on Friday. The firm has a market capitalization of $1,578.47 billion, a price-to-earnings ratio of 121.67, a price-to-earnings-growth ratio of 5.83 and a beta of 1.32. Amazon.com has a twelve month low of $1,626.03 and a twelve month high of $3,344.29. The stock’s 50 day moving average price is $2,884.55 and its two-hundred day moving average price is $2,314.52. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.36.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $8.56. The firm had revenue of $88.91 billion for the quarter, compared to analyst estimates of $81.56 billion. Amazon.com had a return on equity of 21.51% and a net margin of 4.10%. As a group, analysts anticipate that Amazon.com will post 20.12 earnings per share for the current year.

In other Amazon.com news, CEO Andrew R. Jassy sold 6,945 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $2,256.50, for a total value of $15,671,392.50. Following the completion of the transaction, the chief executive officer now owns 93,105 shares of the company’s stock, valued at approximately $210,091,432.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Indra K. Nooyi bought 27 shares of the stock in a transaction on Wednesday, July 1st. The stock was purchased at an average cost of $2,806.80 per share, with a total value of $75,783.60. Following the acquisition, the director now owns 707 shares in the company, valued at $1,984,407.60. The disclosure for this purchase can be found here. 16.10% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of AMZN. Sunbelt Securities Inc. increased its stake in shares of Amazon.com by 23.9% in the fourth quarter. Sunbelt Securities Inc. now owns 7,401 shares of the e-commerce giant’s stock valued at $13,500,000 after buying an additional 1,430 shares during the period. IMS Capital Management increased its stake in shares of Amazon.com by 49.0% in the first quarter. IMS Capital Management now owns 1,550 shares of the e-commerce giant’s stock valued at $3,022,000 after buying an additional 510 shares during the period. Woodstock Corp increased its stake in shares of Amazon.com by 10.6% in the first quarter. Woodstock Corp now owns 178 shares of the e-commerce giant’s stock valued at $347,000 after buying an additional 17 shares during the period. Fulton Bank N.A. increased its stake in shares of Amazon.com by 10.7% in the first quarter. Fulton Bank N.A. now owns 6,531 shares of the e-commerce giant’s stock valued at $12,733,000 after buying an additional 629 shares during the period. Finally, Wiley BROS. Aintree Capital LLC increased its stake in shares of Amazon.com by 5.6% in the first quarter. Wiley BROS. Aintree Capital LLC now owns 563 shares of the e-commerce giant’s stock valued at $1,098,000 after buying an additional 30 shares during the period. 64.54% of the stock is owned by institutional investors.

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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