BMO Capital Markets Raises Amazon.com (NASDAQ:AMZN) Price Target to $3,500.00

Amazon.com (NASDAQ:AMZN) had its price target increased by BMO Capital Markets from $2,850.00 to $3,500.00 in a research report sent to investors on Thursday, BenzingaRatingsTable reports. They currently have an outperform rating on the e-commerce giant’s stock.

AMZN has been the subject of several other reports. JPMorgan Chase & Co. restated a buy rating on shares of Amazon.com in a research note on Monday, May 4th. Guggenheim boosted their price target on Amazon.com from $2,250.00 to $2,700.00 and gave the company a buy rating in a research note on Friday, May 1st. William Blair reiterated a buy rating on shares of Amazon.com in a research report on Monday, June 22nd. BidaskClub downgraded Amazon.com from a buy rating to a hold rating in a research report on Friday, July 24th. Finally, Goldman Sachs Group reiterated a buy rating on shares of Amazon.com in a research report on Monday, July 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $3,240.51.

AMZN opened at $3,164.68 on Thursday. The business has a fifty day simple moving average of $2,884.55 and a 200 day simple moving average of $2,314.52. The company has a market capitalization 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 company has a debt-to-equity ratio of 0.36, a current ratio of 1.08 and a quick ratio of 0.84.

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

In other news, CEO Andrew R. Jassy sold 6,945 shares of the 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 sale, 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 SEC, which is available at this link. Also, Director Indra K. Nooyi purchased 27 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was bought at an average cost of $2,806.80 per share, with a total value of $75,783.60. Following the purchase, the director now 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 hedge funds have recently modified their holdings of AMZN. Gantzert Investment Co. LLC ADV bought a new stake in shares of Amazon.com during the 2nd quarter valued at about $28,000. Sofos Investments Inc. boosted its position in shares of Amazon.com by 120.0% during the 1st quarter. Sofos Investments Inc. now owns 121 shares of the e-commerce giant’s stock valued at $31,000 after purchasing an additional 66 shares in the last quarter. Deane Retirement Strategies Inc. boosted its position in shares of Amazon.com by 142.9% during the 1st quarter. Deane Retirement Strategies Inc. now owns 17 shares of the e-commerce giant’s stock valued at $33,000 after purchasing an additional 10 shares in the last quarter. Your Advocates Ltd. LLP bought a new stake in shares of Amazon.com during the 1st quarter valued at about $37,000. Finally, James Investment Research Inc. bought a new stake in shares of Amazon.com during the 2nd quarter valued at about $55,000. 64.54% of the stock is owned by institutional investors.

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.

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