Amazon.com’s (AMZN) Overweight Rating Reiterated at Piper Jaffray Companies

Amazon.com, Inc. (NASDAQ:AMZN)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Jaffray Companies in a research report issued to clients and investors on Monday, May 22nd.

Several other research analysts have also recently issued reports on AMZN. JMP Securities reaffirmed a “positive” rating on shares of Amazon.com in a report on Friday, February 3rd. Instinet dropped their price target on Amazon.com to $925.00 in a report on Friday, February 3rd. Jefferies Group LLC set a $975.00 price target on Amazon.com and gave the company a “buy” rating in a report on Friday, February 3rd. Macquarie set a $895.00 price target on Amazon.com and gave the company a “buy” rating in a report on Friday, February 3rd. Finally, Benchmark Co. cut their target price on shares of Amazon.com from $950.00 to $925.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Five analysts have rated the stock with a hold rating and forty-six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $1,016.79.

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

Shares of Amazon.com (NASDAQ AMZN) traded up 2.44% during trading on Monday, hitting $987.71. The stock had a trading volume of 11,472,662 shares. The firm’s 50-day moving average is $970.64 and its 200-day moving average is $865.45. Amazon.com has a one year low of $682.11 and a one year high of $1,016.50. The firm has a market cap of $472.10 billion, a P/E ratio of 186.01 and a beta of 1.47.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, April 27th. The e-commerce giant reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.45. The company had revenue of $35.71 billion for the quarter, compared to analysts’ expectations of $35.31 billion. Amazon.com had a return on equity of 13.72% and a net margin of 1.81%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 earnings per share. Equities research analysts forecast that Amazon.com will post $6.67 EPS for the current year.

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In other Amazon.com news, insider David Zapolsky sold 505 shares of Amazon.com stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $946.59, for a total value of $478,027.95. Following the sale, the insider now directly owns 2,018 shares in the company, valued at approximately $1,910,218.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey A. Wilke sold 2,000 shares of Amazon.com stock in a transaction on Monday, June 5th. The shares were sold at an average price of $1,011.06, for a total transaction of $2,022,120.00. Following the completion of the sale, the chief executive officer now owns 10,000 shares in the company, valued at $10,110,600. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,013,380 shares of company stock worth $953,846,866. 17.70% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. OLD Second National Bank of Aurora raised its stake in shares of Amazon.com by 15.0% in the first quarter. OLD Second National Bank of Aurora now owns 115 shares of the e-commerce giant’s stock valued at $102,000 after buying an additional 15 shares during the last quarter. Ibex Wealth Advisors acquired a new stake in shares of Amazon.com during the fourth quarter valued at about $113,000. Jacobus Wealth Management Inc. acquired a new stake in shares of Amazon.com during the first quarter valued at about $113,000. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Amazon.com by 46.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 126 shares of the e-commerce giant’s stock valued at $115,000 after buying an additional 40 shares during the last quarter. Finally, Lipe & Dalton acquired a new stake in shares of Amazon.com during the first quarter valued at about $124,000. Hedge funds and other institutional investors own 63.43% of the company’s stock.

About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.

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