Amazon.com (AMZN) Price Target Raised to $2,100.00 at Canaccord Genuity

Amazon.com (NASDAQ:AMZN) had its price objective increased by investment analysts at Canaccord Genuity from $2,000.00 to $2,100.00 in a research note issued to investors on Friday, July 27th, Marketbeat.com reports. The firm presently has a “buy” rating on the e-commerce giant’s stock. Canaccord Genuity’s target price would indicate a potential upside of 11.33% from the stock’s previous close.

A number of other brokerages have also recently issued reports on AMZN. Nomura reaffirmed a “buy” rating on shares of Amazon.com in a research note on Friday, July 27th. DA Davidson raised their price objective on shares of Amazon.com to $2,200.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $2,020.00 target price on shares of Amazon.com in a research note on Friday, July 27th. BMO Capital Markets raised their target price on shares of Amazon.com from $2,000.00 to $2,250.00 and gave the company an “outperform” rating in a research note on Friday, July 27th. Finally, Piper Jaffray Companies raised their target price on shares of Amazon.com from $1,850.00 to $2,075.00 and gave the company an “overweight” rating in a research note on Tuesday, July 17th. Two research analysts have rated the stock with a hold rating, fifty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $1,933.51.

Amazon.com traded down $12.22, reaching $1,886.30, during trading on Friday, according to Marketbeat Ratings. The stock had a trading volume of 3,620,761 shares, compared to its average volume of 5,021,807. Amazon.com has a one year low of $931.75 and a one year high of $1,914.57. The stock has a market cap of $925.99 billion, a PE ratio of 414.57, a P/E/G ratio of 4.15 and a beta of 1.60. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 26th. The e-commerce giant reported $5.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.49 by $2.58. Amazon.com had a return on equity of 18.47% and a net margin of 3.02%. The firm had revenue of $52.89 billion for the quarter, compared to analysts’ expectations of $53.37 billion. During the same period last year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. equities analysts anticipate that Amazon.com will post 17.27 earnings per share for the current year.

In related news, Director Thomas O. Ryder sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $1,783.81, for a total transaction of $8,919,050.00. Following the sale, the director now owns 10,752 shares in the company, valued at $19,179,525.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Tom A. Alberg sold 2,320 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $1,827.29, for a total transaction of $4,239,312.80. The disclosure for this sale can be found here. Insiders sold 16,438 shares of company stock worth $27,553,529 in the last quarter. Company insiders own 16.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Berkshire Capital Holdings Inc. acquired a new position in Amazon.com during the first quarter valued at approximately $17,715,000. Suntrust Banks Inc. increased its stake in shares of Amazon.com by 14.9% in the 4th quarter. Suntrust Banks Inc. now owns 67,992 shares of the e-commerce giant’s stock valued at $79,513,000 after purchasing an additional 8,806 shares during the last quarter. Waratah Capital Advisors Ltd. acquired a new stake in shares of Amazon.com during the 1st quarter valued at $964,000. Wealthfront Inc. boosted its holdings in shares of Amazon.com by 12.8% during the 4th quarter. Wealthfront Inc. now owns 18,696 shares of the e-commerce giant’s stock valued at $21,864,000 after acquiring an additional 2,117 shares in the last quarter. Finally, Wright Investors Service Inc. boosted its holdings in shares of Amazon.com by 8.1% during the 4th quarter. Wright Investors Service Inc. now owns 6,527 shares of the e-commerce giant’s stock valued at $7,633,000 after acquiring an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 57.12% of the company’s stock.

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 vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.

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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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