Citigroup Inc. Reaffirms “Buy” Rating for Amazon.com, Inc. (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN)‘s stock had its “buy” rating restated by Citigroup Inc. in a research note issued on Sunday, July 30th. They presently have a $1,200.00 price target on the e-commerce giant’s stock, down from their previous price target of $1,220.00. Citigroup Inc.’s price target indicates a potential upside of 23.97% from the stock’s previous close.

Other equities analysts have also issued reports about the company. William Blair reaffirmed a “buy” rating on shares of Amazon.com in a research report on Sunday, April 2nd. Credit Suisse Group reaffirmed a “buy” rating and set a $900.00 target price on shares of Amazon.com in a research report on Monday, April 10th. Needham & Company LLC raised Amazon.com from a “hold” rating to a “buy” rating and set a $1,000.00 target price on the stock in a research report on Monday, April 10th. Vetr raised Amazon.com from a “hold” rating to a “buy” rating and set a $931.83 target price on the stock in a research report on Monday, April 10th. Finally, Macquarie reiterated a “buy” rating and set a $995.00 price target on shares of Amazon.com in a report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, forty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,065.61.

Shares of Amazon.com (AMZN) traded up 1.16% during mid-day trading on Friday, reaching $967.99. 3,468,017 shares of the company traded hands. The stock’s 50 day moving average is $998.12 and its 200 day moving average is $926.08. Amazon.com has a 52-week low of $710.10 and a 52-week high of $1,083.31. The stock has a market capitalization of $465.00 billion, a PE ratio of 246.18 and a beta of 1.48.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by $1.00. Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The firm had revenue of $37.96 billion for the quarter, compared to analyst estimates of $37.18 billion. During the same period in the previous year, the company earned $1.78 earnings per share. Amazon.com’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, analysts anticipate that Amazon.com will post $3.83 earnings per share for the current year.

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In other news, CEO Jeffrey A. Wilke sold 710 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $987.39, for a total transaction of $701,046.90. Following the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $9,873,900. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey A. Wilke sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $1,011.06, for a total value of $2,022,120.00. Following the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $10,110,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,890 shares of company stock worth $10,800,023. Insiders own 17.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Financial Private Capital LLC purchased a new position in shares of Amazon.com during the second quarter valued at about $221,000. Veritable L.P. boosted its position in shares of Amazon.com by 5.4% in the second quarter. Veritable L.P. now owns 13,415 shares of the e-commerce giant’s stock valued at $12,986,000 after buying an additional 683 shares during the period. Waters Parkerson & CO. LLC boosted its position in shares of Amazon.com by 11.1% in the second quarter. Waters Parkerson & CO. LLC now owns 300 shares of the e-commerce giant’s stock valued at $290,000 after buying an additional 30 shares during the period. Evercore Wealth Management LLC boosted its position in shares of Amazon.com by 0.6% in the second quarter. Evercore Wealth Management LLC now owns 60,852 shares of the e-commerce giant’s stock valued at $58,905,000 after buying an additional 337 shares during the period. Finally, Ironwood Investment Counsel LLC boosted its position in shares of Amazon.com by 62.1% in the second quarter. Ironwood Investment Counsel LLC now owns 514 shares of the e-commerce giant’s stock valued at $498,000 after buying an additional 197 shares during the period. 62.17% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Company Profile

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.

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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