Amazon.com, Inc. (AMZN) Stock Rating Reaffirmed by Credit Suisse Group

Amazon.com, Inc. (NASDAQ:AMZN)‘s stock had its “outperform” rating reiterated by Credit Suisse Group in a report issued on Wednesday. They currently have a $1,350.00 target price on the e-commerce giant’s stock, up from their previous target price of $1,100.00. Credit Suisse Group’s price objective points to a potential upside of 34.87% from the stock’s previous close.

AMZN has been the topic of a number of other research reports. BidaskClub cut shares of Amazon.com from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. SunTrust Banks, Inc. initiated coverage on shares of Amazon.com in a research note on Tuesday, August 15th. They issued a “buy” rating and a $1,220.00 price target on the stock. JMP Securities reiterated an “outperform” rating and issued a $1,125.00 price target on shares of Amazon.com in a research note on Friday, August 25th. Mizuho reiterated a “buy” rating and issued a $1,250.00 price target on shares of Amazon.com in a research note on Monday, August 7th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $1,150.00 price target on shares of Amazon.com in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-eight have issued a buy rating and one has given a strong buy rating to the stock. Amazon.com presently has an average rating of “Buy” and a consensus price target of $1,121.04.

Amazon.com (NASDAQ:AMZN) traded up 0.495% on Wednesday, hitting $1005.885. 955,693 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $970.06 and a 200-day moving average price of $965.51. The stock has a market cap of $483.21 billion, a P/E ratio of 255.820 and a beta of 1.47. Amazon.com has a 52-week low of $710.10 and a 52-week high of $1,083.31.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.40 by ($1.00). The business had revenue of $37.96 billion during the quarter, compared to analysts’ expectations of $37.18 billion. Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 earnings per share. Analysts predict that Amazon.com will post $3.59 earnings per share for the current fiscal year.

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In other Amazon.com news, insider Brian T. Olsavsky sold 2,334 shares of Amazon.com stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $988.90, for a total value of $2,308,092.60. Following the transaction, the insider now owns 1,748 shares in the company, valued at $1,728,597.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey A. Wilke sold 710 shares of Amazon.com stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $987.39, for a total value of $701,046.90. Following the completion of the transaction, the chief executive officer now owns 10,000 shares in the company, valued at approximately $9,873,900. The disclosure for this sale can be found here. Insiders sold 9,083 shares of company stock worth $8,874,850 in the last quarter. 17.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Leavell Investment Management Inc. boosted its holdings in Amazon.com by 0.3% in the second quarter. Leavell Investment Management Inc. now owns 394 shares of the e-commerce giant’s stock worth $381,000 after acquiring an additional 1 shares in the last quarter. SeaBridge Investment Advisors LLC boosted its holdings in Amazon.com by 0.4% in the second quarter. SeaBridge Investment Advisors LLC now owns 272 shares of the e-commerce giant’s stock worth $263,000 after acquiring an additional 1 shares in the last quarter. Probity Advisors Inc. boosted its holdings in Amazon.com by 0.6% in the second quarter. Probity Advisors Inc. now owns 320 shares of the e-commerce giant’s stock worth $310,000 after acquiring an additional 2 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Amazon.com by 0.3% in the second quarter. Venturi Wealth Management LLC now owns 632 shares of the e-commerce giant’s stock worth $612,000 after acquiring an additional 2 shares in the last quarter. Finally, Regis Management CO LLC boosted its holdings in Amazon.com by 0.9% in the second quarter. Regis Management CO LLC now owns 231 shares of the e-commerce giant’s stock worth $224,000 after acquiring an additional 2 shares in the last quarter. 60.77% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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