Trade Report: Today: Amazon.com’s (AMZN) Buy Rating Reaffirm at Evercore ISI

Today: Amazon.com’s (AMZN) Buy Rating Reaffirm at Evercore ISI

Amazon.com Inc. (NASDAQ:AMZN)‘s stock had its “buy” rating reiterated by research analysts at Evercore ISI in a note issued to investors on Monday. They currently have a $990.00 target price on the e-commerce giant’s stock. Evercore ISI’s target price would suggest a potential upside of 26.86% from the company’s previous close.

A number of other research firms have also recently weighed in on AMZN. Vetr raised shares of Amazon.com from a “hold” rating to a “buy” rating and set a $880.16 price objective on the stock in a report on Thursday, October 6th. Zacks Investment Research raised shares of Amazon.com from a “hold” rating to a “strong-buy” rating and set a $968.00 price objective on the stock in a report on Friday, October 7th. Canaccord Genuity reissued a “buy” rating and set a $900.00 price objective (up previously from $825.00) on shares of Amazon.com in a report on Monday, October 24th. Cantor Fitzgerald restated a “buy” rating and set a $1,000.00 target price on shares of Amazon.com in a research report on Monday, October 24th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $900.00 target price on shares of Amazon.com in a research report on Tuesday, October 4th. Six equities research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $911.75.

Amazon.com (NASDAQ:AMZN) opened at 780.37 on Monday. The firm has a market capitalization of $370.81 billion, a PE ratio of 178.78 and a beta of 1.51. The company has a 50 day moving average of $791.62 and a 200 day moving average of $760.15. Amazon.com has a 1-year low of $474.00 and a 1-year high of $847.21.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 27th. The e-commerce giant reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.28. The firm earned $32.71 billion during 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 firm’s revenue was up 29.0% compared to the same quarter last year. During the same period last year, the business earned $0.17 EPS. Analysts forecast that Amazon.com will post $4.78 EPS for the current year.

In other news, CEO Andrew R. Jassy sold 14,000 shares of the business’s 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 sale, the chief executive officer now directly owns 68,141 shares in the company, valued at $54,512,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.70% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the stock. Nadler Financial Group Inc. raised its stake in Amazon.com by 8.4% in the second quarter. Nadler Financial Group Inc. now owns 439 shares of the e-commerce giant’s stock valued at $314,000 after buying an additional 34 shares during the last quarter. CenturyLink Investment Management Co raised its stake in Amazon.com by 3.7% in the second quarter. CenturyLink Investment Management Co now owns 7,418 shares of the e-commerce giant’s stock valued at $5,308,000 after buying an additional 262 shares during the last quarter. Raymond James Trust N.A. raised its stake in Amazon.com by 2.6% in the second quarter. Raymond James Trust N.A. now owns 2,977 shares of the e-commerce giant’s stock valued at $2,130,000 after buying an additional 75 shares during the last quarter. West Oak Capital LLC raised its stake in Amazon.com by 105.7% in the second quarter. West Oak Capital LLC now owns 216 shares of the e-commerce giant’s stock valued at $155,000 after buying an additional 111 shares during the last quarter. Finally, Patten & Patten Inc. TN raised its stake in Amazon.com by 9.5% in the second quarter. Patten & Patten Inc. TN now owns 1,405 shares of the e-commerce giant’s stock valued at $1,005,000 after buying an additional 122 shares during the last quarter. Institutional investors own 64.77% of the company’s stock.

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