Amazon.com’s (AMZN) Buy Rating Reiterated at SunTrust Banks

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SunTrust Banks reissued their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research note released on Friday morning, TipRanks reports. The firm currently has a $2,350.00 price objective on the e-commerce giant’s stock.

A number of other analysts have also issued reports on AMZN. BidaskClub upgraded shares of Amazon.com from a strong sell rating to a sell rating in a research report on Wednesday, November 27th. Macquarie set a $2,200.00 target price on shares of Amazon.com and gave the stock a buy rating in a research report on Friday, October 25th. Credit Suisse Group restated an outperform rating and set a $2,100.00 target price (down previously from $2,400.00) on shares of Amazon.com in a research report on Friday, October 25th. MKM Partners restated a buy rating and set a $2,350.00 target price (up previously from $2,240.00) on shares of Amazon.com in a research report on Friday, August 2nd. Finally, UBS Group restated a buy rating on shares of Amazon.com in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and forty-two have assigned a buy rating to the company. Amazon.com has an average rating of Buy and an average price target of $2,167.41.

Shares of AMZN stock traded down $19.20 during trading hours on Friday, hitting $1,781.60. The company’s stock had a trading volume of 3,924,411 shares, compared to its average volume of 3,936,617. The business has a fifty day moving average of $1,767.47 and a 200-day moving average of $1,824.52. The stock has a market cap of $883.27 billion, a price-to-earnings ratio of 88.46, a P/E/G ratio of 3.30 and a beta of 1.53. Amazon.com has a twelve month low of $1,307.00 and a twelve month high of $2,035.80. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.40.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 24th. The e-commerce giant reported $4.23 EPS for the quarter, missing the consensus estimate of $4.46 by ($0.23). The business had revenue of $69.98 billion during the quarter, compared to analyst estimates of $68.72 billion. Amazon.com had a net margin of 4.27% and a return on equity of 22.52%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.75 earnings per share. On average, equities analysts expect that Amazon.com will post 20.52 EPS for the current fiscal year.

In other news, CEO Jeffrey A. Wilke sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $1,748.04, for a total value of $1,748,040.00. Following the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $17,480,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Indra K. Nooyi bought 100 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was acquired at an average cost of $1,726.06 per share, for a total transaction of $172,606.00. Following the purchase, the director now owns 250 shares in the company, valued at approximately $431,515. The disclosure for this purchase can be found here. In the last three months, insiders sold 15,296 shares of company stock worth $27,149,828. Insiders own 16.10% of the company’s stock.

Several hedge funds have recently modified their holdings of AMZN. Advisory Services Network LLC increased its stake in Amazon.com by 25.1% during the 2nd quarter. Advisory Services Network LLC now owns 10,767 shares of the e-commerce giant’s stock worth $20,388,000 after buying an additional 2,159 shares during the period. Bogart Wealth LLC increased its stake in Amazon.com by 21.3% during the 2nd quarter. Bogart Wealth LLC now owns 359 shares of the e-commerce giant’s stock worth $679,000 after buying an additional 63 shares during the period. Sound Income Strategies LLC increased its stake in Amazon.com by 21.0% during the 2nd quarter. Sound Income Strategies LLC now owns 288 shares of the e-commerce giant’s stock worth $545,000 after buying an additional 50 shares during the period. Buckingham Capital Management Inc. increased its stake in Amazon.com by 12.1% during the 1st quarter. Buckingham Capital Management Inc. now owns 3,340 shares of the e-commerce giant’s stock worth $5,948,000 after buying an additional 361 shares during the period. Finally, Cornerstone Advisors Inc. increased its stake in Amazon.com by 7.3% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,052 shares of the e-commerce giant’s stock worth $1,992,000 after buying an additional 72 shares during the period. 56.01% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Company Profile

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 third-party sellers through physical stores and online stores.

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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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