Bank of America reissued their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. Bank of America currently has a $2,100.00 price objective on the e-commerce giant’s stock, up from their previous price objective of $2,000.00.
A number of other brokerages also recently issued reports on AMZN. Wells Fargo & Co reaffirmed a buy rating and issued a $2,300.00 price objective on shares of Amazon.com in a research report on Monday, October 1st. BidaskClub raised shares of Amazon.com from a hold rating to a buy rating in a research report on Friday, September 28th. Macquarie reaffirmed a buy rating and issued a $2,200.00 price objective on shares of Amazon.com in a research report on Tuesday, October 2nd. Jefferies Financial Group reaffirmed a buy rating on shares of Amazon.com in a research report on Monday, October 1st. Finally, ValuEngine raised shares of Amazon.com from a hold rating to a buy rating in a research report on Thursday, September 13th. Three analysts have rated the stock with a hold rating and forty-seven have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $2,087.85.
Shares of Amazon.com stock traded down $15.66 on Wednesday, reaching $1,640.56. The stock had a trading volume of 4,669,557 shares, compared to its average volume of 7,318,253. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.63. Amazon.com has a 1 year low of $1,265.93 and a 1 year high of $2,050.50. The company has a market cap of $811.40 billion, a P/E ratio of 360.56, a PEG ratio of 2.33 and a beta of 1.66.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 25th. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.29 by $2.46. Amazon.com had a net margin of 4.03% and a return on equity of 24.35%. The firm had revenue of $56.58 billion for the quarter, compared to the consensus estimate of $57.05 billion. As a group, equities research analysts forecast that Amazon.com will post 19.5 EPS for the current fiscal year.
In other Amazon.com news, Director Daniel P. Huttenlocher sold 181 shares of Amazon.com stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $1,579.89, for a total transaction of $285,960.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey A. Wilke sold 1,230 shares of Amazon.com stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $1,506.94, for a total transaction of $1,853,536.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,842 shares of company stock valued at $38,549,801. Company insiders own 16.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in AMZN. Spence Asset Management lifted its stake in shares of Amazon.com by 127.3% in the 4th quarter. Spence Asset Management now owns 25 shares of the e-commerce giant’s stock valued at $38,000 after purchasing an additional 14 shares during the period. Guidant Wealth Advisors lifted its stake in shares of Amazon.com by 657.4% in the 2nd quarter. Guidant Wealth Advisors now owns 409 shares of the e-commerce giant’s stock valued at $100,000 after purchasing an additional 355 shares during the period. Spirit of America Management Corp NY acquired a new position in shares of Amazon.com in the 3rd quarter valued at $110,000. Taylor Hoffman Wealth Management lifted its stake in shares of Amazon.com by 192.3% in the 3rd quarter. Taylor Hoffman Wealth Management now owns 76 shares of the e-commerce giant’s stock valued at $152,000 after purchasing an additional 50 shares during the period. Finally, Legacy Advisors LLC lifted its stake in shares of Amazon.com by 47.1% in the 2nd quarter. Legacy Advisors LLC now owns 103 shares of the e-commerce giant’s stock valued at $175,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.
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.
Further Reading: Cash Flow
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