Amazon.com (AMZN) Stock Rating Reaffirmed by Wedbush

Amazon.com (NASDAQ:AMZN)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research note issued on Monday, Marketbeat.com reports. They presently have a $1,861.69 target price on the e-commerce giant’s stock. Wedbush’s price target points to a potential downside of 4.44% from the stock’s previous close.

Several other brokerages also recently commented on AMZN. Societe Generale began coverage on Amazon.com in a research note on Monday, April 8th. They set a “buy” rating and a $2,370.00 target price for the company. Oppenheimer boosted their price target on Amazon.com from $1,975.00 to $2,085.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. CIBC boosted their price target on Amazon.com from $1,975.00 to $2,085.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Wells Fargo & Co set a $2,100.00 price target on Amazon.com and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, BidaskClub upgraded Amazon.com from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company. Amazon.com currently has a consensus rating of “Buy” and a consensus target price of $2,144.38.

AMZN stock traded up $45.96 during midday trading on Monday, reaching $1,948.21. The company had a trading volume of 6,510,311 shares, compared to its average volume of 4,818,619. The company has a market cap of $946.60 billion, a PE ratio of 96.73, a price-to-earnings-growth ratio of 2.32 and a beta of 1.63. Amazon.com has a 1-year low of $1,307.00 and a 1-year high of $2,050.50. The company has a quick ratio of 0.85, a current ratio of 1.10 and a debt-to-equity ratio of 0.54.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, April 25th. The e-commerce giant reported $7.09 EPS for the quarter, beating the Zacks’ consensus estimate of $4.61 by $2.48. The business had revenue of $59.70 billion during the quarter, compared to the consensus estimate of $59.73 billion. Amazon.com had a return on equity of 27.02% and a net margin of 4.33%. Amazon.com’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.27 earnings per share. On average, analysts anticipate that Amazon.com will post 26.64 EPS for the current fiscal year.

In other news, Director Patricia Q. Stonesifer sold 1,375 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $1,602.00, for a total value of $2,202,750.00. Following the completion of the sale, the director now owns 7,861 shares of the company’s stock, valued at approximately $12,593,322. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeffrey M. Blackburn sold 2,055 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $1,616.34, for a total value of $3,321,578.70. Following the completion of the sale, the senior vice president now directly owns 46,596 shares of the company’s stock, valued at approximately $75,314,978.64. The disclosure for this sale can be found here. Insiders have sold a total of 7,075 shares of company stock worth $11,802,708 in the last ninety days. Insiders own 16.30% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in shares of Amazon.com by 150,721.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 109,486,103 shares of the e-commerce giant’s stock valued at $73,000 after buying an additional 109,413,510 shares during the last quarter. Norges Bank acquired a new position in shares of Amazon.com during the 4th quarter worth approximately $6,529,928,000. Bank of New York Mellon Corp boosted its holdings in shares of Amazon.com by 700,301.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,999,295 shares of the e-commerce giant’s stock worth $8,010,587,000 after purchasing an additional 3,998,724 shares during the last quarter. Ellis Investment Partners LLC raised its position in shares of Amazon.com by 187,061.8% during the 1st quarter. Ellis Investment Partners LLC now owns 2,457,435 shares of the e-commerce giant’s stock valued at $2,457,000 after buying an additional 2,456,122 shares during the period. Finally, Vanguard Group Inc raised its position in shares of Amazon.com by 1.8% during the 3rd quarter. Vanguard Group Inc now owns 29,599,653 shares of the e-commerce giant’s stock valued at $59,288,105,000 after buying an additional 516,913 shares during the period. Institutional investors own 56.03% 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 third-party sellers through physical stores and online stores.

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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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