JPMorgan Chase & Co. Reaffirms Buy Rating for Amazon.com (NASDAQ:AMZN)

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reissued by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Wednesday, January 10th. They presently have a $1,385.00 price target on the e-commerce giant’s stock, up from their prior price target of $1,375.00. JPMorgan Chase & Co.’s price target suggests a potential downside of 1.07% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $1,400.00 price objective (up from $1,200.00) on shares of Amazon.com in a research report on Tuesday, January 9th. BidaskClub upgraded Amazon.com from a “hold” rating to a “buy” rating in a research note on Tuesday, January 9th. Credit Suisse Group restated a “buy” rating on shares of Amazon.com in a research note on Tuesday, January 9th. Robert W. Baird restated a “buy” rating and set a $1,310.00 price objective on shares of Amazon.com in a research note on Monday, January 8th. Finally, Vetr lowered Amazon.com from a “buy” rating to a “hold” rating and set a $1,277.08 price target on the stock. in a research note on Monday, January 8th. Six investment analysts have rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Amazon.com currently has a consensus rating of “Buy” and a consensus target price of $1,436.23.

Amazon.com (NASDAQ:AMZN) traded up $10.00 during trading hours on Wednesday, hitting $1,400.00. The company had a trading volume of 5,320,000 shares, compared to its average volume of 4,670,000. Amazon.com has a fifty-two week low of $803.00 and a fifty-two week high of $1,498.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 1.04. The company has a market capitalization of $674,620.00, a P/E ratio of 226.90, a PEG ratio of 8.23 and a beta of 1.63.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $2.16 EPS for the quarter, beating the consensus estimate of $1.85 by $0.31. Amazon.com had a return on equity of 9.23% and a net margin of 1.71%. The firm had revenue of $60.45 billion during the quarter, compared to analysts’ expectations of $59.85 billion. During the same period in the prior year, the firm posted $1.54 earnings per share. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. research analysts anticipate that Amazon.com will post 8.33 EPS for the current year.

In other news, Director Tom A. Alberg sold 870 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $1,150.00, for a total transaction of $1,000,500.00. Following the completion of the sale, the director now directly owns 17,949 shares in the company, valued at $20,641,350. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 1,985 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $1,125.38, for a total transaction of $2,233,879.30. The disclosure for this sale can be found here. Insiders have sold 9,368 shares of company stock worth $10,726,970 over the last ninety days. Insiders own 17.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Amazon.com by 2.9% during the second quarter. Vanguard Group Inc. now owns 26,863,386 shares of the e-commerce giant’s stock valued at $26,003,758,000 after purchasing an additional 764,115 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Amazon.com by 2.4% during the second quarter. BlackRock Inc. now owns 23,925,821 shares of the e-commerce giant’s stock valued at $23,160,193,000 after purchasing an additional 554,990 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Amazon.com by 0.4% during the second quarter. Capital Research Global Investors now owns 10,711,772 shares of the e-commerce giant’s stock valued at $10,368,995,000 after purchasing an additional 40,068 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Amazon.com by 1.7% during the second quarter. TIAA CREF Investment Management LLC now owns 2,828,302 shares of the e-commerce giant’s stock valued at $2,737,796,000 after purchasing an additional 46,800 shares during the last quarter. Finally, Harbour Capital Advisors LLC lifted its holdings in shares of Amazon.com by 100,947.5% during the second quarter. Harbour Capital Advisors LLC now owns 2,302,872 shares of the e-commerce giant’s stock valued at $2,379,000 after purchasing an additional 2,300,593 shares during the last quarter. Institutional investors and hedge funds own 59.49% of the company’s stock.

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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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