Amazon.com (AMZN) Shares Up 7.1% Following Earnings Beat

Shares of Amazon.com, Inc. (NASDAQ:AMZN) shot up 7.1% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $1,794.81 and last traded at $1,782.17. 8,150,432 shares traded hands during trading, an increase of 58% from the average session volume of 5,159,900 shares. The stock had previously closed at $1,664.20.

The e-commerce giant reported $5.75 EPS for the quarter, topping the consensus estimate of $3.29 by $2.46. The firm had revenue of $56.58 billion for the quarter, compared to the consensus estimate of $57.05 billion. Amazon.com had a net margin of 3.02% and a return on equity of 18.47%.

Several brokerages have commented on AMZN. DA Davidson raised their target price on shares of Amazon.com from $2,200.00 to $2,450.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. Wells Fargo & Co reiterated a “buy” rating and issued a $2,300.00 price objective on shares of Amazon.com in a report on Monday, October 1st. BidaskClub upgraded shares of Amazon.com from a “hold” rating to a “buy” rating in a report on Friday, September 28th. Robert W. Baird reiterated a “buy” rating on shares of Amazon.com in a report on Monday, September 3rd. Finally, Macquarie reiterated a “buy” rating and issued a $2,200.00 price objective on shares of Amazon.com in a report on Tuesday, October 2nd. Five research analysts have rated the stock with a hold rating and forty-eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $2,037.57.



In other Amazon.com news, CEO Jeffrey A. Wilke sold 2,000 shares of Amazon.com stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $2,004.25, for a total transaction of $4,008,500.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $20,042,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Judith A. Mcgrath sold 500 shares of Amazon.com stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $1,905.00, for a total transaction of $952,500.00. The disclosure for this sale can be found here. Insiders sold 25,308 shares of company stock valued at $47,905,498 over the last three months. 16.30% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Liberty Capital Management Inc. bought a new position in Amazon.com during the third quarter worth $7,249,000. LA Financiere DE L Echiquier boosted its position in Amazon.com by 3.1% during the third quarter. LA Financiere DE L Echiquier now owns 17,571 shares of the e-commerce giant’s stock worth $35,195,000 after purchasing an additional 535 shares during the period. Securian Asset Management Inc boosted its position in Amazon.com by 1.8% during the third quarter. Securian Asset Management Inc now owns 42,236 shares of the e-commerce giant’s stock worth $84,599,000 after purchasing an additional 744 shares during the period. Edgemoor Investment Advisors Inc. boosted its position in Amazon.com by 27.8% during the third quarter. Edgemoor Investment Advisors Inc. now owns 460 shares of the e-commerce giant’s stock worth $921,000 after purchasing an additional 100 shares during the period. Finally, Klingman & Associates LLC boosted its position in Amazon.com by 19.1% during the third quarter. Klingman & Associates LLC now owns 530 shares of the e-commerce giant’s stock worth $1,062,000 after purchasing an additional 85 shares during the period. 57.15% of the stock is owned by hedge funds and other institutional investors.

The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $872.72 billion, a P/E ratio of 364.02, a price-to-earnings-growth ratio of 3.73 and a beta of 1.58.

About Amazon.com (NASDAQ:AMZN)

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.

See Also: Relative Strength Index

Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply