Amazon.com, Inc. (AMZN) Given New $975.00 Price Target at Instinet
Amazon.com, Inc. (NASDAQ:AMZN) had its price objective decreased by research analysts at Instinet from $1,100.00 to $975.00 in a research note issued on Friday. The firm presently has a “buy” rating on the e-commerce giant’s stock. Instinet’s price objective points to a potential downside of 1.29% from the stock’s previous close.
Other research analysts also recently issued research reports about the stock. William Blair reaffirmed a “buy” rating on shares of Amazon.com in a research note on Saturday, March 11th. Canaccord Genuity reaffirmed a “buy” rating and issued a $900.00 price target on shares of Amazon.com in a research note on Wednesday, March 1st. Vetr raised shares of Amazon.com from a “hold” rating to a “buy” rating and set a $884.00 price target on the stock in a research note on Tuesday, February 28th. Citigroup Inc. reaffirmed a “buy” rating on shares of Amazon.com in a research note on Wednesday, February 22nd. Finally, Aegis reaffirmed a “buy” rating on shares of Amazon.com in a research note on Wednesday, March 15th. Five analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $1,016.79.
Amazon.com (NASDAQ:AMZN) opened at 987.71 on Friday. Amazon.com has a 52-week low of $682.12 and a 52-week high of $1,016.50. The stock has a market cap of $472.10 billion, a PE ratio of 186.01 and a beta of 1.47. The firm has a 50 day moving average of $970.64 and a 200-day moving average of $865.45.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, April 27th. The e-commerce giant reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.45. The company had revenue of $35.71 billion for the quarter, compared to the consensus estimate of $35.31 billion. Amazon.com had a net margin of 1.81% and a return on equity of 13.72%. The firm’s revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 EPS. Equities analysts anticipate that Amazon.com will post $6.68 earnings per share for the current fiscal year.
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In other Amazon.com news, insider David Zapolsky sold 505 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $946.59, for a total transaction of $478,027.95. Following the sale, the insider now directly owns 2,018 shares in the company, valued at $1,910,218.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey A. Wilke sold 2,670 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $1,010.64, for a total transaction of $2,698,408.80. Following the sale, the chief executive officer now owns 10,000 shares in the company, valued at $10,106,400. The disclosure for this sale can be found here. Insiders have sold 1,013,380 shares of company stock worth $953,846,866 over the last quarter. Insiders own 17.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of AMZN. Harvest Capital Management Inc raised its stake in shares of Amazon.com by 15.4% in the third quarter. Harvest Capital Management Inc now owns 450 shares of the e-commerce giant’s stock worth $335,000 after buying an additional 60 shares during the period. RGT Capital Management Ltd. acquired a new stake in shares of Amazon.com during the third quarter worth about $503,000. TrueNorth Inc. acquired a new stake in shares of Amazon.com during the third quarter worth about $1,387,000. ELCO Management Co. LLC acquired a new stake in shares of Amazon.com during the third quarter worth about $1,515,000. Finally, Hall Laurie J Trustee acquired a new stake in shares of Amazon.com during the fourth quarter worth about $631,000. Institutional investors own 63.43% of the company’s stock.
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 North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.
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