Benchmark Cuts Amazon.com (NASDAQ:AMZN) Price Target to $3,700.00

Amazon.com (NASDAQ:AMZN) had its price target lowered by Benchmark from $4,000.00 to $3,700.00 in a research report sent to investors on Friday morning, The Fly reports.

Other analysts have also issued reports about the company. Zacks Investment Research upgraded Amazon.com from a sell rating to a hold rating and set a $3,212.00 price objective for the company in a report on Friday, January 28th. Morgan Stanley cut their price objective on Amazon.com from $4,200.00 to $3,800.00 in a report on Friday. BMO Capital Markets cut their price objective on Amazon.com from $4,100.00 to $3,600.00 and set a buy rating for the company in a report on Thursday, January 27th. Raymond James cut their price objective on Amazon.com from $3,950.00 to $3,300.00 in a report on Friday. Finally, BNP Paribas started coverage on Amazon.com in a report on Tuesday, March 29th. They set an underperform rating and a $2,800.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $3,863.09.

AMZN opened at $2,485.63 on Friday. The stock has a fifty day moving average of $3,056.53 and a 200-day moving average of $3,227.12. The firm has a market capitalization of $1.26 trillion, a P/E ratio of 60.00, a PEG ratio of 2.21 and a beta of 1.12. Amazon.com has a 12-month low of $2,432.50 and a 12-month high of $3,773.08. The company has a quick ratio of 0.91, a current ratio of 1.14 and a debt-to-equity ratio of 0.35.

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

Amazon.com (NASDAQ:AMZNGet Rating) last released its earnings results on Thursday, April 28th. The e-commerce giant reported ($7.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $9.33 by ($16.89). The business had revenue of $116.44 billion during the quarter, compared to analysts’ expectations of $116.52 billion. Amazon.com had a net margin of 7.10% and a return on equity of 27.98%. Amazon.com’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $15.79 EPS. On average, analysts expect that Amazon.com will post 49.15 earnings per share for the current fiscal year.

In other news, SVP David Zapolsky sold 1,060 shares of Amazon.com stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $3,150.92, for a total value of $3,339,975.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Selipsky sold 34 shares of Amazon.com stock in a transaction that occurred on Wednesday, March 30th. The shares were sold at an average price of $3,370.19, for a total transaction of $114,586.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,397 shares of company stock valued at $10,641,586. Corporate insiders own 14.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. State Street Corp raised its position in Amazon.com by 4.3% in the 4th quarter. State Street Corp now owns 17,021,616 shares of the e-commerce giant’s stock worth $56,755,855,000 after purchasing an additional 698,970 shares during the last quarter. Geode Capital Management LLC raised its position in Amazon.com by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 7,193,360 shares of the e-commerce giant’s stock worth $23,917,115,000 after purchasing an additional 195,716 shares during the last quarter. MFA Wealth Advisors LLC raised its position in Amazon.com by 295,683.2% in the 3rd quarter. MFA Wealth Advisors LLC now owns 5,714,531 shares of the e-commerce giant’s stock worth $6,075,000 after purchasing an additional 5,712,599 shares during the last quarter. Capital Research Global Investors raised its position in Amazon.com by 14.1% in the 4th quarter. Capital Research Global Investors now owns 4,574,546 shares of the e-commerce giant’s stock worth $15,253,179,000 after purchasing an additional 564,699 shares during the last quarter. Finally, Norges Bank bought a new position in Amazon.com in the 4th quarter worth approximately $14,053,756,000. Hedge funds and other institutional investors own 70.01% of the company’s stock.

Amazon.com Company Profile (Get Rating)

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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