Amazon.com (AMZN) Stock Rating Reaffirmed by Citigroup

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reaffirmed by investment analysts at Citigroup in a research report issued to clients and investors on Friday, January 5th. They currently have a $1,400.00 price objective on the e-commerce giant’s stock, up from their previous price objective of $1,250.00. Citigroup’s price objective points to a potential downside of 0.15% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. TheStreet upgraded Amazon.com from a “c+” rating to a “b-” rating in a research report on Tuesday, November 7th. Royal Bank of Canada set a $1,100.00 target price on Amazon.com and gave the stock a “buy” rating in a research report on Monday, September 11th. MKM Partners restated a “buy” rating and set a $1,275.00 target price on shares of Amazon.com in a research report on Thursday, September 7th. Jefferies Group restated a “buy” rating and set a $1,250.00 target price on shares of Amazon.com in a research report on Tuesday, September 26th. Finally, Morgan Stanley restated a “buy” rating on shares of Amazon.com in a research report on Monday, September 25th. Four analysts have rated the stock with a hold rating, fifty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,291.37.

Shares of Amazon.com (NASDAQ:AMZN) traded up $24.10 during midday trading on Friday, hitting $1,402.05. The stock had a trading volume of 4,584,082 shares, compared to its average volume of 3,630,000. The stock has a market capitalization of $675,610.00, a PE ratio of 354.05, a PEG ratio of 8.11 and a beta of 1.46. Amazon.com has a one year low of $803.00 and a one year high of $1,402.53. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 1.03.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 26th. The e-commerce giant reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.57). The company had revenue of $43.74 billion during the quarter, compared to analysts’ expectations of $42.26 billion. Amazon.com had a net margin of 1.20% and a return on equity of 8.67%. Amazon.com’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. analysts predict that Amazon.com will post 4.24 EPS for the current fiscal year.

In other news, CEO Jeffrey P. Bezos sold 391,110 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $1,103.53, for a total value of $431,601,618.30. Following the completion of the sale, the chief executive officer now owns 79,891,433 shares of the company’s stock, valued at approximately $88,162,593,058.49. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chief Executive Officer of Worldwide Consumer Jeffrey A. Wilke sold 2,800 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $1,160.34, for a total value of $3,248,952.00. Following the completion of the sale, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $11,603,400. The disclosure for this sale can be found here. In the last three months, insiders sold 402,338 shares of company stock valued at $444,391,701. 17.70% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbour Capital Advisors LLC grew its holdings in shares of Amazon.com by 100,947.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,302,872 shares of the e-commerce giant’s stock worth $2,379,000 after acquiring an additional 2,300,593 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Amazon.com by 1,045.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,775,556 shares of the e-commerce giant’s stock worth $1,718,711,000 after acquiring an additional 1,620,588 shares during the period. Vanguard Group Inc. grew its holdings in shares of Amazon.com by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 26,863,386 shares of the e-commerce giant’s stock worth $26,003,758,000 after acquiring an additional 764,115 shares during the period. Truepoint Inc. grew its holdings in shares of Amazon.com by 94,448.7% during the 3rd quarter. Truepoint Inc. now owns 572,965 shares of the e-commerce giant’s stock worth $573,000 after acquiring an additional 572,359 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of Amazon.com by 2.4% during the 2nd quarter. BlackRock Inc. now owns 23,925,821 shares of the e-commerce giant’s stock worth $23,160,193,000 after acquiring an additional 554,990 shares during the period. 59.78% of the stock is owned by institutional investors and hedge funds.

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About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.

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