The Amazon.com Inc. (AMZN) Given “Overweight” Rating at KeyCorp

The Amazon.com Inc. (AMZN) Given “Overweight” Rating at KeyCorp

Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “overweight” rating reaffirmed by research analysts at KeyCorp in a research report issued to clients and investors on Wednesday. They currently have a $847.00 price objective on the e-commerce giant’s stock. KeyCorp’s target price would indicate a potential upside of 1.55% from the company’s current price.

Several other research firms have also recently issued reports on AMZN. Bank of America Corp. reiterated a “buy” rating and issued a $860.00 target price on shares of Amazon.com in a research note on Monday, August 15th. JPMorgan Chase & Co. set a $908.00 target price on shares of Amazon.com and gave the stock a “buy” rating in a research note on Tuesday, July 12th. Piper Jaffray Cos. reiterated a “buy” rating and issued a $800.00 target price on shares of Amazon.com in a research note on Friday, July 8th. Cowen and Company reiterated an “outperform” rating and issued a $960.00 target price (up from $900.00) on shares of Amazon.com in a research note on Monday, September 26th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $800.00 target price on shares of Amazon.com in a research note on Tuesday, July 5th. Five research analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $891.31.

Shares of Amazon.com (NASDAQ:AMZN) traded up 0.37% during trading on Wednesday, hitting $834.09. 2,376,605 shares of the stock were exchanged. The firm has a market capitalization of $395.42 billion, a price-to-earnings ratio of 207.43 and a beta of 1.20. Amazon.com has a 52 week low of $474.00 and a 52 week high of $847.21. The stock’s 50 day moving average price is $794.09 and its 200 day moving average price is $723.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.67. The company had revenue of $30.40 billion for the quarter, compared to analysts’ expectations of $29.54 billion. Amazon.com had a net margin of 1.60% and a return on equity of 13.52%. Amazon.com’s revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 EPS. On average, equities analysts predict that Amazon.com will post $5.85 earnings per share for the current year.

In other news, CEO Andrew R. Jassy sold 2,305 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $769.75, for a total value of $1,774,273.75. Following the transaction, the chief executive officer now directly owns 84,446 shares in the company, valued at $65,002,308.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 14,000 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $800.00, for a total transaction of $11,200,000.00. Following the completion of the transaction, the chief executive officer now owns 68,141 shares in the company, valued at $54,512,800. The disclosure for this sale can be found here. 17.70% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Advisors Inc. boosted its position in Amazon.com by 0.4% in the second quarter. Cornerstone Advisors Inc. now owns 558 shares of the e-commerce giant’s stock worth $399,000 after buying an additional 2 shares during the last quarter. Cadence Bank NA boosted its position in Amazon.com by 0.4% in the second quarter. Cadence Bank NA now owns 497 shares of the e-commerce giant’s stock worth $355,000 after buying an additional 2 shares during the last quarter. American Economic Planning Group Inc. ADV boosted its position in Amazon.com by 0.6% in the second quarter. American Economic Planning Group Inc. ADV now owns 365 shares of the e-commerce giant’s stock worth $261,000 after buying an additional 2 shares during the last quarter. First Niagara Bank boosted its position in Amazon.com by 0.3% in the second quarter. First Niagara Bank now owns 1,330 shares of the e-commerce giant’s stock worth $952,000 after buying an additional 4 shares during the last quarter. Finally, Hartford Financial Management Inc. boosted its position in Amazon.com by 1.1% in the second quarter. Hartford Financial Management Inc. now owns 475 shares of the e-commerce giant’s stock worth $339,000 after buying an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 65.44% of the company’s stock.

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