Wells Fargo & Company Raises Amazon.com (AMZN) Price Target to $1,525.00

Amazon.com (NASDAQ:AMZN) had its price objective hoisted by Wells Fargo & Company to $1,525.00 in a research report released on Friday morning. Wells Fargo & Company currently has an outperform rating on the e-commerce giant’s stock. The analysts noted that the move was a valuation call.

A number of other research analysts have also recently weighed in on AMZN. Goldman Sachs Group reiterated a conviction-buy rating and issued a $1,275.00 target price on shares of Amazon.com in a report on Wednesday, August 9th. Cowen reiterated an outperform rating and issued a $1,125.00 target price on shares of Amazon.com in a report on Thursday, August 10th. Piper Jaffray Companies reiterated an overweight rating and issued a $1,200.00 target price on shares of Amazon.com in a report on Thursday, August 10th. Tigress Financial reiterated a buy rating on shares of Amazon.com in a report on Wednesday, August 9th. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $1,150.00 target price on shares of Amazon.com in a report on Thursday, September 28th. Five equities research analysts have rated the stock with a hold rating and forty-eight have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $1,207.37.

Shares of Amazon.com (AMZN) opened at $1,162.35 on Friday. Amazon.com has a fifty-two week low of $736.70 and a fifty-two week high of $1,213.41. The company has a current ratio of 1.03, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $560,104.13, a price-to-earnings ratio of 295.01, a PEG ratio of 14.56 and a beta of 1.47.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 26th. The e-commerce giant reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.57). Amazon.com had a return on equity of 8.67% and a net margin of 1.20%. The business had revenue of $43.74 billion for the quarter, compared to analyst estimates of $42.26 billion. During the same quarter last year, the business earned $0.52 EPS. Amazon.com’s revenue for the quarter was up 33.7% compared to the same quarter last year. research analysts expect that Amazon.com will post 4.24 EPS for the current fiscal year.

In other news, CEO Jeffrey P. Bezos sold 391,110 shares of Amazon.com stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $1,103.53, for a total transaction of $431,601,618.30. Following the sale, the chief executive officer now directly owns 79,891,433 shares of the company’s stock, valued at $88,162,593,058.49. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Tom A. Alberg sold 1,860 shares of Amazon.com stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $1,109.20, for a total value of $2,063,112.00. Following the sale, the director now directly owns 18,460 shares in the company, valued at $20,475,832. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 399,538 shares of company stock worth $441,142,749. Corporate insiders own 17.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Leavell Investment Management Inc. grew its stake in Amazon.com by 0.3% in the second quarter. Leavell Investment Management Inc. now owns 394 shares of the e-commerce giant’s stock worth $381,000 after purchasing an additional 1 shares in the last quarter. SeaBridge Investment Advisors LLC grew its stake in Amazon.com by 0.4% in the second quarter. SeaBridge Investment Advisors LLC now owns 272 shares of the e-commerce giant’s stock worth $263,000 after purchasing an additional 1 shares in the last quarter. Probity Advisors Inc. grew its stake in Amazon.com by 0.6% in the second quarter. Probity Advisors Inc. now owns 320 shares of the e-commerce giant’s stock worth $310,000 after purchasing an additional 2 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Amazon.com by 0.3% in the second quarter. Venturi Wealth Management LLC now owns 632 shares of the e-commerce giant’s stock worth $612,000 after purchasing an additional 2 shares in the last quarter. Finally, Regis Management CO LLC grew its stake in Amazon.com by 0.9% in the second quarter. Regis Management CO LLC now owns 231 shares of the e-commerce giant’s stock worth $224,000 after purchasing an additional 2 shares in the last quarter. 59.79% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “Wells Fargo & Company Raises Amazon.com (AMZN) Price Target to $1,525.00” was first posted by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international copyright legislation. The correct version of this news story can be viewed at https://www.com-unik.info/2017/12/04/wells-fargo-company-raises-amazon-com-amzn-price-target-to-1525-00.html.

About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

What are top analysts saying about Amazon.com Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Amazon.com Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit