Amazon.com (AMZN) Stock Rating Reaffirmed by Bank of America

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reissued by analysts at Bank of America in a report issued on Wednesday, MarketBeat reports. They currently have a $2,100.00 target price on the e-commerce giant’s stock, up from their previous target price of $2,000.00. Bank of America‘s price target indicates a potential upside of 26.79% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Independent Research restated a “buy” rating on shares of Amazon.com in a report on Wednesday, September 26th. BidaskClub upgraded Amazon.com from a “hold” rating to a “buy” rating in a report on Friday, September 28th. Macquarie reiterated a “buy” rating and set a $2,200.00 price objective on shares of Amazon.com in a report on Tuesday, October 2nd. Barclays reiterated an “overweight” rating and set a $1,950.00 price objective (down from $2,100.00) on shares of Amazon.com in a report on Friday, October 26th. Finally, William Blair reiterated an “outperform” rating on shares of Amazon.com in a report on Monday, October 29th. Three equities research analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $2,087.85.

Shares of Amazon.com stock opened at $1,656.22 on Wednesday. Amazon.com has a 1 year low of $1,256.46 and a 1 year high of $2,050.50. The stock has a market capitalization of $811.40 billion, a price-to-earnings ratio of 364.00, a price-to-earnings-growth ratio of 2.33 and a beta of 1.66. 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 (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 25th. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.29 by $2.46. Amazon.com had a return on equity of 24.35% and a net margin of 4.03%. The company had revenue of $56.58 billion during the quarter, compared to the consensus estimate of $57.05 billion. On average, research analysts predict that Amazon.com will post 19.5 EPS for the current fiscal year.

In other news, CEO Jeffrey P. Bezos sold 16,964 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $1,632.23, for a total value of $27,689,149.72. Following the completion of the sale, the chief executive officer now directly owns 78,884,539 shares of the company’s stock, valued at $128,757,711,091.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Shelley Reynolds sold 437 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $1,573.11, for a total value of $687,449.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,842 shares of company stock valued at $38,549,801. Insiders own 16.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMZN. Neville Rodie & Shaw Inc. lifted its holdings in Amazon.com by 30.2% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 1,624 shares of the e-commerce giant’s stock worth $2,761,000 after purchasing an additional 377 shares during the last quarter. Cibc Bank USA lifted its holdings in Amazon.com by 2.9% during the 2nd quarter. Cibc Bank USA now owns 3,758 shares of the e-commerce giant’s stock worth $6,388,000 after purchasing an additional 106 shares during the last quarter. Norman Fields Gottscho Capital Management LLC acquired a new stake in Amazon.com during the 2nd quarter worth approximately $223,000. Gulf International Bank UK Ltd lifted its holdings in Amazon.com by 2.5% during the 2nd quarter. Gulf International Bank UK Ltd now owns 132,296 shares of the e-commerce giant’s stock worth $224,876,000 after purchasing an additional 3,198 shares during the last quarter. Finally, Indiana Trust & Investment Management CO acquired a new stake in Amazon.com during the 2nd quarter worth approximately $214,000. 55.57% of the stock is owned by institutional investors.

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.

Recommended Story: Understanding Price to Earnings Ratio (PE)

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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