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

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Wells Fargo & Co reaffirmed their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research report sent to investors on Tuesday morning. They currently have a $2,110.00 target price on the e-commerce giant’s stock.

Several other research firms also recently commented on AMZN. Robert W. Baird reissued a buy rating on shares of Amazon.com in a report on Monday, September 3rd. Jefferies Financial Group reissued a buy rating on shares of Amazon.com in a report on Thursday, August 30th. Macquarie reissued a buy rating on shares of Amazon.com in a report on Wednesday, August 29th. Morgan Stanley reissued an overweight rating and issued a $2,500.00 target price (up previously from $1,850.00) on shares of Amazon.com in a report on Wednesday, August 29th. Finally, MKM Partners boosted their target price on shares of Amazon.com from $1,840.00 to $2,215.00 and gave the stock a buy rating in a report on Wednesday, August 22nd. Two research analysts have rated the stock with a hold rating and fifty have issued a buy rating to the company’s stock. Amazon.com presently has a consensus rating of Buy and a consensus price target of $1,963.87.

AMZN stock opened at $1,952.07 on Tuesday. Amazon.com has a one year low of $931.75 and a one year high of $2,050.50. 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 capitalization of $955.15 billion, a PE ratio of 177.71, a P/E/G ratio of 4.08 and a beta of 1.60.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, July 26th. The e-commerce giant reported $5.07 EPS for the quarter, topping the consensus estimate of $2.49 by $2.58. Amazon.com had a net margin of 3.02% and a return on equity of 18.47%. The firm had revenue of $52.89 billion for the quarter, compared to the consensus estimate of $53.37 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. equities research analysts predict that Amazon.com will post 17.78 EPS for the current year.

In other news, SVP David Zapolsky sold 1,927 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $1,899.96, for a total value of $3,661,222.92. Following the transaction, the senior vice president now directly owns 3,161 shares in the company, valued at $6,005,773.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey M. Blackburn sold 2,054 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $1,899.75, for a total transaction of $3,902,086.50. Following the completion of the transaction, the insider now owns 46,595 shares in the company, valued at $88,518,851.25. The disclosure for this sale can be found here. Insiders have sold 23,308 shares of company stock worth $43,942,058 in the last quarter. Company insiders own 16.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AMZN. BlackRock Inc. grew its holdings in Amazon.com by 0.7% during the 2nd quarter. BlackRock Inc. now owns 25,402,494 shares of the e-commerce giant’s stock worth $43,179,159,000 after acquiring an additional 167,739 shares in the last quarter. FMR LLC grew its holdings in Amazon.com by 0.7% during the 2nd quarter. FMR LLC now owns 17,245,226 shares of the e-commerce giant’s stock worth $29,313,435,000 after acquiring an additional 121,401 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in Amazon.com by 180,406.1% during the 1st quarter. Summit Trail Advisors LLC now owns 9,848,415 shares of the e-commerce giant’s stock worth $9,848,000 after acquiring an additional 9,842,959 shares in the last quarter. Morgan Stanley grew its holdings in Amazon.com by 1.8% during the 2nd quarter. Morgan Stanley now owns 4,637,654 shares of the e-commerce giant’s stock worth $7,883,083,000 after acquiring an additional 81,024 shares in the last quarter. Finally, Cornerstone Wealth Management LLC grew its holdings in Amazon.com by 198,956.6% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 3,340,169 shares of the e-commerce giant’s stock worth $1,949,000 after acquiring an additional 3,338,491 shares in the last quarter. Hedge funds and other institutional investors own 57.38% of the company’s stock.

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 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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