Zacks Investment Research upgraded shares of Amazon.com (NASDAQ:AMZN) from a hold rating to a strong-buy rating in a research note published on Wednesday morning. The brokerage currently has $1,578.00 price objective on the e-commerce giant’s stock.
According to Zacks, “Amazon has outperformed the industry it belongs to in the past year. However, President Trump’s recent tweet attacks have somewhat dented the momentum. Nevertheless, the company’s expanding AWS enterprise customer base and increasing number of paid Prime members is positive. AWS generates much higher margins than retail, positively impacting Amazon’s profitability. However, increased operating expenses to support expansion of its business into new markets and territories, localize the availability of products and grow its content will keep margins under pressure. The company has been rumored to acquire India’s dominant e-Commerce provider Flipkart, which although has slim chances to get approval, will boost its market share. Meanwhile, estimates have been stable ahead of the company’s Q1 earnings release.”
AMZN has been the subject of a number of other reports. Vetr lowered Amazon.com from a hold rating to a sell rating and set a $1,346.44 price objective for the company. in a report on Monday, January 29th. BidaskClub lowered Amazon.com from a strong-buy rating to a buy rating in a report on Friday, March 30th. Goldman Sachs reissued a conviction-buy rating on shares of Amazon.com in a report on Friday, February 2nd. UBS increased their price objective on Amazon.com to $1,760.00 and gave the stock a buy rating in a report on Friday, March 9th. They noted that the move was a valuation call. Finally, Citigroup reissued a buy rating and issued a $1,400.00 price objective (up from $1,250.00) on shares of Amazon.com in a report on Friday, January 5th. Four research analysts have rated the stock with a hold rating, forty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $1,494.78.
Shares of AMZN stock opened at $1,405.23 on Wednesday. Amazon.com has a 12-month low of $884.49 and a 12-month high of $1,617.54. The company has a market capitalization of $702,802.63, a P/E ratio of 308.84, a price-to-earnings-growth ratio of 6.38 and a beta of 1.59. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.04 and a quick ratio of 0.76.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, February 1st. The e-commerce giant reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.31. Amazon.com had a return on equity of 9.23% and a net margin of 1.71%. The business had revenue of $60.45 billion during the quarter, compared to analyst estimates of $59.85 billion. During the same period in the prior year, the company posted $1.54 EPS. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. equities research analysts forecast that Amazon.com will post 8.49 EPS for the current fiscal year.
In related news, CEO Jeffrey A. Wilke sold 250 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $1,518.47, for a total transaction of $379,617.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey A. Wilke sold 2,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $1,454.37, for a total value of $2,908,740.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,214 shares of company stock valued at $9,251,120. 17.70% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in AMZN. Day & Ennis LLC increased its position in Amazon.com by 21.3% during the second quarter. Day & Ennis LLC now owns 279 shares of the e-commerce giant’s stock worth $270,000 after buying an additional 49 shares during the last quarter. Beach Investment Management LLC. increased its position in Amazon.com by 996.3% during the second quarter. Beach Investment Management LLC. now owns 22,035 shares of the e-commerce giant’s stock worth $21,330,000 after buying an additional 20,025 shares during the last quarter. Glassman Wealth Services increased its position in Amazon.com by 9.4% during the second quarter. Glassman Wealth Services now owns 745 shares of the e-commerce giant’s stock worth $721,000 after buying an additional 64 shares during the last quarter. Vivaldi Capital Management LLC acquired a new position in Amazon.com during the second quarter worth $293,000. Finally, Manchester Capital Management LLC increased its position in Amazon.com by 2.8% during the second quarter. Manchester Capital Management LLC now owns 1,068 shares of the e-commerce giant’s stock worth $1,034,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 60.21% of the company’s stock.
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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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