Amazon.com Inc. (NASDAQ:AMZN) had its target price dropped by equities research analysts at Citigroup Inc. from $965.00 to $960.00 in a research report issued on Monday. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. Citigroup Inc.’s price objective suggests a potential upside of 23.02% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $800.00 price objective on shares of Amazon.com in a research note on Sunday, July 31st. Cantor Fitzgerald set a $835.00 target price on shares of Amazon.com and gave the stock a “buy” rating in a research report on Monday, August 1st. Vetr raised shares of Amazon.com from a “hold” rating to a “buy” rating and set a $800.28 target price for the company in a research report on Tuesday, August 2nd. MKM Partners boosted their target price on shares of Amazon.com from $850.00 to $995.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Finally, Bank of America Corp. reissued a “buy” rating and set a $860.00 target price on shares of Amazon.com in a research report on Monday, August 15th. Six equities research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $911.75.
Amazon.com (NASDAQ:AMZN) traded down 1.74% during trading on Monday, reaching $766.77. The company had a trading volume of 4,381,162 shares. Amazon.com has a 12-month low of $474.00 and a 12-month high of $847.21. The firm has a 50-day moving average price of $791.62 and a 200 day moving average price of $760.15. The stock has a market cap of $364.34 billion, a P/E ratio of 175.66 and a beta of 1.51.
Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 27th. The e-commerce giant reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by $0.28. The company had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.69 billion. Amazon.com had a net margin of 1.64% and a return on equity of 13.47%. The company’s quarterly revenue was up 29.0% on a year-over-year basis. During the same period last year, the business earned $0.17 EPS. Equities research analysts predict that Amazon.com will post $4.78 EPS for the current fiscal year.
In related news, CEO Andrew R. Jassy sold 14,000 shares of the business’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $800.00, for a total transaction of $11,200,000.00. Following the transaction, the chief executive officer now owns 68,141 shares in the company, valued at approximately $54,512,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 17.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bartlett & Co. LLC raised its stake in shares of Amazon.com by 7.1% in the third quarter. Bartlett & Co. LLC now owns 120 shares of the e-commerce giant’s stock worth $100,000 after buying an additional 8 shares during the period. Pathstone Family Office LLC raised its stake in shares of Amazon.com by 92.1% in the second quarter. Pathstone Family Office LLC now owns 146 shares of the e-commerce giant’s stock worth $105,000 after buying an additional 70 shares during the period. Kistler Tiffany Companies LLC raised its stake in shares of Amazon.com by 906.7% in the second quarter. Kistler Tiffany Companies LLC now owns 151 shares of the e-commerce giant’s stock worth $108,000 after buying an additional 136 shares during the period. Kings Point Capital Management acquired a new stake in shares of Amazon.com during the second quarter worth approximately $109,000. Finally, D. Scott Neal Inc. raised its stake in shares of Amazon.com by 3,000.0% in the third quarter. D. Scott Neal Inc. now owns 155 shares of the e-commerce giant’s stock worth $130,000 after buying an additional 150 shares during the period. Institutional investors own 64.77% of the company’s stock.