Amazon.com (AMZN) Stock Rating Reaffirmed by Wells Fargo & Co

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Wells Fargo & Co reiterated their outperform rating on shares of Amazon.com (NASDAQ:AMZN) in a research note published on Friday, July 27th, The Fly reports. Wells Fargo & Co currently has a $2,110.00 target price on the e-commerce giant’s stock.

Several other research analysts have also recently weighed in on AMZN. Argus dropped their price target on shares of Amazon.com from $1,550.00 to $1,392.05 and set a fair value rating on the stock in a research note on Wednesday, April 4th. Loop Capital boosted their target price on shares of Amazon.com to $1,800.00 and gave the stock a buy rating in a report on Friday, April 27th. Piper Jaffray Companies boosted their target price on shares of Amazon.com from $1,850.00 to $2,075.00 and gave the stock an overweight rating in a report on Tuesday, July 17th. Morgan Stanley set a $1,700.00 price target on shares of Amazon.com and gave the company a buy rating in a report on Saturday, June 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Amazon.com to $1,900.00 and gave the company an overweight rating in a research report on Friday, April 27th. Two research analysts have rated the stock with a hold rating, fifty have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $1,933.51.

Shares of Amazon.com traded down $12.22, reaching $1,886.30, during trading on Friday, MarketBeat reports. 3,620,761 shares of the stock were exchanged, compared to its average volume of 5,021,807. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.70. The firm has a market cap of $925.99 billion, a P/E ratio of 414.57, a P/E/G ratio of 4.15 and a beta of 1.60. Amazon.com has a 1 year low of $931.75 and a 1 year high of $1,914.57.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, July 26th. The e-commerce giant reported $5.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $2.58. The business had revenue of $52.89 billion during the quarter, compared to analyst estimates of $53.37 billion. Amazon.com had a net margin of 3.02% and a return on equity of 18.47%. Amazon.com’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period last year, the business posted $0.40 earnings per share. research analysts forecast that Amazon.com will post 17.27 earnings per share for the current fiscal year.

In other Amazon.com news, VP Shelley Reynolds sold 435 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $1,578.02, for a total transaction of $686,438.70. Following the completion of the sale, the vice president now directly owns 6,408 shares in the company, valued at approximately $10,111,952.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tom A. Alberg sold 2,320 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $1,827.29, for a total value of $4,239,312.80. The disclosure for this sale can be found here. Insiders have sold a total of 16,438 shares of company stock valued at $27,553,529 over the last 90 days. Corporate insiders own 16.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Marcus Capital LLC lifted its holdings in shares of Amazon.com by 2.4% during the 2nd quarter. Marcus Capital LLC now owns 1,171 shares of the e-commerce giant’s stock valued at $1,990,000 after buying an additional 27 shares during the last quarter. Winthrop Advisory Group LLC lifted its holdings in Amazon.com by 3.8% in the 2nd quarter. Winthrop Advisory Group LLC now owns 744 shares of the e-commerce giant’s stock worth $1,265,000 after purchasing an additional 27 shares during the last quarter. AMI Investment Management Inc. lifted its holdings in Amazon.com by 17.6% in the 2nd quarter. AMI Investment Management Inc. now owns 180 shares of the e-commerce giant’s stock worth $306,000 after purchasing an additional 27 shares during the last quarter. BKD Wealth Advisors LLC lifted its holdings in Amazon.com by 3.1% in the 2nd quarter. BKD Wealth Advisors LLC now owns 943 shares of the e-commerce giant’s stock worth $1,603,000 after purchasing an additional 28 shares during the last quarter. Finally, SignalPoint Asset Management LLC lifted its holdings in Amazon.com by 2.0% in the 2nd quarter. SignalPoint Asset Management LLC now owns 1,453 shares of the e-commerce giant’s stock worth $2,470,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 57.12% of the company’s stock.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.

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