Argus Trims Amazon.com (AMZN) Target Price to $1,392.05

Amazon.com (NASDAQ:AMZN) had its price target lowered by Argus from $1,550.00 to $1,392.05 in a report released on Wednesday. The brokerage currently has a fair value rating on the e-commerce giant’s stock.

A number of other analysts have also weighed in on AMZN. Loop Capital set a $1,700.00 price objective on shares of Amazon.com and gave the stock a buy rating in a research report on Wednesday. Vetr raised shares of Amazon.com from a hold rating to a buy rating and set a $1,655.33 price objective on the stock in a research report on Thursday, March 15th. JMP Securities reissued a neutral rating and issued a $1,600.00 price objective (up from $1,475.00) on shares of Amazon.com in a research report on Friday, February 2nd. Royal Bank of Canada reissued a buy rating and issued a $1,700.00 price objective on shares of Amazon.com in a research report on Friday, February 2nd. Finally, Canaccord Genuity reissued a buy rating and issued a $1,650.00 price objective (up from $1,500.00) on shares of Amazon.com in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating, forty-eight have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $1,494.78.

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Amazon.com stock opened at $1,405.23 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 1.04. Amazon.com has a 1-year low of $884.49 and a 1-year high of $1,617.54. The stock has a market capitalization of $702,802.63, a P/E ratio of 308.84, a PEG ratio of 6.38 and a beta of 1.59.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 1st. The e-commerce giant reported $2.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.31. Amazon.com had a net margin of 1.71% and a return on equity of 9.23%. The company had revenue of $60.45 billion for 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 firm’s revenue for the quarter was up 38.2% on a year-over-year basis. sell-side analysts expect that Amazon.com will post 8.49 EPS for the current fiscal year.

In other Amazon.com news, Director Tom A. Alberg sold 670 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $1,500.00, for a total value of $1,005,000.00. Following the completion of the sale, the director now directly owns 14,159 shares in the company, valued at $21,238,500. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Shelley Reynolds sold 544 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $1,462.32, for a total transaction of $795,502.08. Following the completion of the sale, the vice president now owns 6,533 shares of the company’s stock, valued at $9,553,336.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,214 shares of company stock worth $9,251,120. Insiders own 17.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. CI Investments Inc. boosted its stake in Amazon.com by 0.7% in the third quarter. CI Investments Inc. now owns 56,995 shares of the e-commerce giant’s stock valued at $54,792,000 after acquiring an additional 400 shares in the last quarter. Broadleaf Partners LLC purchased a new position in shares of Amazon.com in the fourth quarter worth $6,772,000. Perpetual Ltd purchased a new position in shares of Amazon.com in the second quarter worth $25,356,000. Bank of Montreal Can raised its holdings in shares of Amazon.com by 9.6% in the fourth quarter. Bank of Montreal Can now owns 558,105 shares of the e-commerce giant’s stock worth $652,687,000 after buying an additional 48,847 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings in shares of Amazon.com by 13.7% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 904 shares of the e-commerce giant’s stock worth $869,000 after buying an additional 109 shares during the last quarter. Institutional investors own 60.21% of the company’s stock.

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About Amazon.com

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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