Amazon.com (NASDAQ:AMZN) Hits New 1-Year Low After Earnings Miss

Amazon.com, Inc. (NASDAQ:AMZN)’s share price reached a new 52-week low on Thursday following a weaker than expected earnings announcement. The company traded as low as $2,568.41 and last traded at $2,625.00, with a volume of 250051 shares trading hands. The stock had previously closed at $2,787.82.

The e-commerce giant reported ($7.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of $9.33 by ($16.89). The firm had revenue of $116.44 billion for the quarter, compared to analyst estimates of $116.52 billion. Amazon.com had a return on equity of 27.98% and a net margin of 7.10%. Amazon.com’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $15.79 earnings per share.

A number of brokerages recently weighed in on AMZN. Rosenblatt Securities assumed coverage on shares of Amazon.com in a report on Tuesday, April 19th. They set a “neutral” rating and a $3,000.00 target price on the stock. Monness Crespi & Hardt reduced their price objective on shares of Amazon.com from $4,500.00 to $3,700.00 and set a “buy” rating for the company in a research report on Friday. BNP Paribas assumed coverage on shares of Amazon.com in a research report on Tuesday, March 29th. They set an “underperform” rating and a $2,800.00 price objective for the company. Cowen reduced their price objective on shares of Amazon.com from $4,400.00 to $4,250.00 in a research report on Friday. Finally, Zacks Investment Research raised shares of Amazon.com from a “sell” rating to a “hold” rating and set a $3,212.00 price objective for the company in a research report on Friday, January 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com currently has an average rating of “Buy” and an average target price of $3,863.09.

In related news, CEO Adam Selipsky sold 34 shares of the stock in a transaction on Wednesday, March 30th. The stock was sold at an average price of $3,370.19, for a total value of $114,586.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Shelley Reynolds sold 222 shares of the stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $3,150.92, for a total value of $699,504.24. The disclosure for this sale can be found here. Insiders have sold a total of 3,397 shares of company stock worth $10,641,586 over the last 90 days. Company insiders own 14.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Davidson Trust Co. lifted its holdings in shares of Amazon.com by 1.8% in the 3rd quarter. Davidson Trust Co. now owns 167 shares of the e-commerce giant’s stock worth $549,000 after purchasing an additional 3 shares in the last quarter. PFG Private Wealth Management LLC raised its position in Amazon.com by 1.3% in the 3rd quarter. PFG Private Wealth Management LLC now owns 229 shares of the e-commerce giant’s stock valued at $752,000 after buying an additional 3 shares during the last quarter. Charter Oak Capital Management LLC raised its position in Amazon.com by 1.3% in the 3rd quarter. Charter Oak Capital Management LLC now owns 233 shares of the e-commerce giant’s stock valued at $765,000 after buying an additional 3 shares during the last quarter. Madrona Financial Services LLC raised its position in Amazon.com by 1.6% in the 3rd quarter. Madrona Financial Services LLC now owns 186 shares of the e-commerce giant’s stock valued at $611,000 after buying an additional 3 shares during the last quarter. Finally, Lorne Steinberg Wealth Management Inc. raised its position in Amazon.com by 4.0% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 78 shares of the e-commerce giant’s stock valued at $256,000 after buying an additional 3 shares during the last quarter. Institutional investors own 70.01% of the company’s stock.

The firm has a market capitalization of $1.26 trillion, a PE ratio of 60.00, a price-to-earnings-growth ratio of 2.21 and a beta of 1.12. The business has a 50-day moving average of $3,056.53 and a 200 day moving average of $3,227.12. The company has a current ratio of 1.14, a quick ratio of 0.91 and a debt-to-equity ratio of 0.35.

Amazon.com shares are set to split on Monday, June 6th. The 20-1 split was announced on Wednesday, March 9th. The newly issued shares will be payable to shareholders after the market closes on Friday, June 3rd.

Amazon.com Company Profile (NASDAQ:AMZN)

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). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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