Amazon.com’s (AMZN) Buy Rating Reiterated at SunTrust Banks

SunTrust Banks reissued their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a report issued on Thursday morning, The Fly reports. The brokerage currently has a $3,600.00 price target on the e-commerce giant’s stock, up from their previous price target of $3,400.00.

A number of other equities analysts have also weighed in on the stock. Barclays boosted their price objective on shares of Amazon.com from $2,500.00 to $3,430.00 and gave the company an overweight rating in a research report on Monday, July 13th. Susquehanna Bancshares reissued a positive rating and issued a $3,000.00 price objective (up previously from $2,500.00) on shares of Amazon.com in a research report on Friday, May 1st. Needham & Company LLC assumed coverage on shares of Amazon.com in a research report on Wednesday, June 24th. They issued a buy rating and a $3,200.00 price objective for the company. BidaskClub lowered shares of Amazon.com from a buy rating to a hold rating in a research report on Friday, July 24th. Finally, DZ Bank reissued a buy rating on shares of Amazon.com in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company. Amazon.com presently has an average rating of Buy and a consensus target price of $3,240.51.

Shares of NASDAQ AMZN opened at $3,164.68 on Thursday. Amazon.com has a 12-month low of $1,626.03 and a 12-month high of $3,344.29. The company has a market capitalization of $1,578.47 billion, a PE ratio of 121.67, a price-to-earnings-growth ratio of 5.83 and a beta of 1.32. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.08 and a quick ratio of 0.84. The firm’s 50-day moving average is $2,884.55 and its two-hundred day moving average is $2,314.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $8.56. The company had revenue of $88.91 billion for the quarter, compared to the consensus estimate of $81.56 billion. Amazon.com had a net margin of 4.10% and a return on equity of 21.51%. On average, analysts forecast that Amazon.com will post 20.12 EPS for the current fiscal year.

In other news, Director Patricia Q. Stonesifer sold 2,200 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $2,329.44, for a total value of $5,124,768.00. Following the transaction, the director now directly owns 4,645 shares in the company, valued at approximately $10,820,248.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Indra K. Nooyi purchased 27 shares of Amazon.com stock in a transaction dated Wednesday, July 1st. The stock was acquired at an average price of $2,806.80 per share, for a total transaction of $75,783.60. Following the completion of the transaction, the director now owns 707 shares in the company, valued at approximately $1,984,407.60. The disclosure for this purchase can be found here. Corporate insiders own 16.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Gantzert Investment Co. LLC ADV bought a new position in shares of Amazon.com in the 2nd quarter worth about $28,000. Sofos Investments Inc. lifted its position in shares of Amazon.com by 120.0% in the 1st quarter. Sofos Investments Inc. now owns 121 shares of the e-commerce giant’s stock worth $31,000 after buying an additional 66 shares during the last quarter. Deane Retirement Strategies Inc. lifted its position in shares of Amazon.com by 142.9% in the 1st quarter. Deane Retirement Strategies Inc. now owns 17 shares of the e-commerce giant’s stock worth $33,000 after buying an additional 10 shares during the last quarter. Your Advocates Ltd. LLP bought a new position in shares of Amazon.com in the 1st quarter worth about $37,000. Finally, James Investment Research Inc. bought a new position in shares of Amazon.com in the 2nd quarter worth about $55,000. Institutional investors own 64.54% of the company’s stock.

Amazon.com Company Profile

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 third-party sellers through physical stores and online stores.

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