Trading Report: The Amazon.com’s (AMZN) “Outperform” Rating Reaffirmed at Cowen and Company

The Amazon.com’s (AMZN) “Outperform” Rating Reaffirmed at Cowen and Company

Cowen and Company restated their outperform rating on shares of Amazon.com Inc. (NASDAQ:AMZN) in a report issued on Wednesday morning. The firm currently has a $960.00 price objective on the e-commerce giant’s stock.

Several other research firms have also commented on AMZN. Needham & Company LLC restated a hold rating on shares of Amazon.com in a research note on Monday, June 27th. Wedbush reiterated an outperform rating and issued a $900.00 price target on shares of Amazon.com in a research note on Friday, September 30th. Piper Jaffray Cos. reiterated a buy rating and issued a $800.00 price target on shares of Amazon.com in a research note on Sunday, July 31st. Pacific Crest reiterated a buy rating and issued a $820.00 price target on shares of Amazon.com in a research note on Friday, July 15th. Finally, Bank of America Corp. reiterated a buy rating and issued a $840.00 price target on shares of Amazon.com in a research note on Sunday, July 17th. Five research analysts have rated the stock with a hold rating, forty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $891.31.

Shares of Amazon.com (NASDAQ:AMZN) traded down 1.07% on Wednesday, reaching $825.15. The company’s stock had a trading volume of 1,018,046 shares. Amazon.com has a 12-month low of $474.00 and a 12-month high of $847.21. The company’s 50 day moving average price is $796.14 and its 200 day moving average price is $723.94. The company has a market cap of $391.18 billion, a P/E ratio of 205.21 and a beta of 1.20.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 EPS for the quarter, topping the consensus estimate of $1.11 by $0.67. The firm earned $30.40 billion during the quarter, compared to analyst estimates of $29.54 billion. Amazon.com had a return on equity of 13.52% and a net margin of 1.60%. Amazon.com’s revenue was up 31.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. Analysts forecast that Amazon.com will post $5.85 EPS for the current fiscal year.

In other news, CEO Andrew R. Jassy sold 14,000 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $800.00, for a total value of $11,200,000.00. Following the completion of the sale, the chief executive officer now owns 68,141 shares of the company’s stock, valued at $54,512,800. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $756.74, for a total value of $756,740,000.00. Following the completion of the sale, the chief executive officer now directly owns 81,871,067 shares of the company’s stock, valued at approximately $61,955,111,241.58. The disclosure for this sale can be found here. 17.70% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the stock. Peavine Capital LLC bought a new stake in shares of Amazon.com during the third quarter valued at $223,000. Hollencrest Securities LLC raised its stake in shares of Amazon.com by 84.3% in the third quarter. Hollencrest Securities LLC now owns 14,219 shares of the e-commerce giant’s stock valued at $11,906,000 after buying an additional 6,502 shares during the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in shares of Amazon.com during the third quarter valued at approximately $230,000. Prospera Financial Services Inc raised its stake in shares of Amazon.com by 5.1% in the third quarter. Prospera Financial Services Inc now owns 2,797 shares of the e-commerce giant’s stock valued at $2,342,000 after buying an additional 135 shares during the last quarter. Finally, Osborn Rohs Williams & Donohoe Ltd raised its stake in shares of Amazon.com by 2.9% in the third quarter. Osborn Rohs Williams & Donohoe Ltd now owns 895 shares of the e-commerce giant’s stock valued at $749,000 after buying an additional 25 shares during the last quarter. 65.44% of the stock is owned by institutional investors.

Amazon.com Company Profile

Related posts

Leave a Comment