Monness Crespi & Hardt Boosts Amazon.com (NASDAQ:AMZN) Price Target to $3,500.00

Amazon.com (NASDAQ:AMZN) had its price target lifted by Monness Crespi & Hardt from $2,800.00 to $3,500.00 in a research note issued to investors on Monday, 24/7 WallStreet reports. They currently have a buy rating on the e-commerce giant’s stock.

Several other brokerages have also issued reports on AMZN. Wedbush upped their target price on shares of Amazon.com from $2,750.00 to $3,050.00 and gave the stock an outperform rating in a research report on Wednesday, June 24th. KeyCorp restated an overweight rating and set a $2,700.00 price target (up from $2,400.00) on shares of Amazon.com in a research report on Friday, May 1st. Canaccord Genuity restated a buy rating and set a $2,750.00 price target on shares of Amazon.com in a research report on Friday, May 1st. Wells Fargo & Co restated a buy rating on shares of Amazon.com in a research report on Wednesday, June 10th. Finally, Telsey Advisory Group upped their price target on shares of Amazon.com from $2,350.00 to $2,800.00 and gave the company an outperform rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, forty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $2,681.96.

Shares of NASDAQ:AMZN opened at $2,890.30 on Monday. Amazon.com has a 52-week low of $1,626.03 and a 52-week high of $2,955.56. The firm has a fifty day moving average of $2,545.66 and a 200 day moving average of $2,139.60. The firm has a market capitalization of $1,435.83 billion, a PE ratio of 138.09, a price-to-earnings-growth ratio of 5.88 and a beta of 1.32. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.08.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, April 30th. The e-commerce giant reported $5.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.36 by ($1.35). Amazon.com had a return on equity of 17.83% and a net margin of 3.56%. The company had revenue of $75.45 billion during the quarter, compared to analysts’ expectations of $74.15 billion. During the same quarter last year, the firm posted $7.09 earnings per share. The firm’s revenue was up 26.4% on a year-over-year basis. On average, sell-side analysts forecast that Amazon.com will post 19.99 EPS for the current fiscal year.

In other news, Director Patricia Q. Stonesifer sold 2,200 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $2,329.44, for a total transaction of $5,124,768.00. Following the sale, the director now owns 4,645 shares in the company, valued at $10,820,248.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew R. Jassy sold 6,945 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $2,256.50, for a total transaction of $15,671,392.50. Following the sale, the chief executive officer now owns 93,105 shares in the company, valued at approximately $210,091,432.50. The disclosure for this sale can be found here. Insiders have sold 9,497 shares of company stock valued at $21,605,827 in the last ninety days. Insiders own 16.10% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Magellan Asset Management Ltd grew its holdings in shares of Amazon.com by 13.5% during the fourth quarter. Magellan Asset Management Ltd now owns 42 shares of the e-commerce giant’s stock valued at $78,000 after buying an additional 5 shares during the last quarter. J. L. Bainbridge & Co. Inc. grew its holdings in shares of Amazon.com by 0.7% during the fourth quarter. J. L. Bainbridge & Co. Inc. now owns 679 shares of the e-commerce giant’s stock valued at $1,255,000 after buying an additional 5 shares during the last quarter. Saturna Capital CORP grew its holdings in shares of Amazon.com by 0.3% during the fourth quarter. Saturna Capital CORP now owns 1,898 shares of the e-commerce giant’s stock valued at $3,507,000 after buying an additional 5 shares during the last quarter. Pratt Collard Advisory Partners LLC grew its holdings in shares of Amazon.com by 3.7% during the first quarter. Pratt Collard Advisory Partners LLC now owns 139 shares of the e-commerce giant’s stock valued at $271,000 after buying an additional 5 shares during the last quarter. Finally, Ballast Advisors LLC grew its holdings in shares of Amazon.com by 0.8% during the first quarter. Ballast Advisors LLC now owns 624 shares of the e-commerce giant’s stock valued at $1,217,000 after buying an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 64.65% 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 third-party sellers through physical stores and online stores.

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