BidaskClub Downgrades Amazon.com (AMZN) to Hold

BidaskClub lowered shares of Amazon.com (NASDAQ:AMZN) from a buy rating to a hold rating in a report issued on Tuesday morning, BidAskClub reports.

Several other research firms also recently commented on AMZN. Royal Bank of Canada restated a buy rating on shares of Amazon.com in a report on Friday, January 25th. Stifel Nicolaus restated a buy rating and set a $2,300.00 price objective (down from $2,400.00) on shares of Amazon.com in a report on Friday, February 1st. Benchmark reduced their price objective on Amazon.com from $2,100.00 to $2,000.00 and set a buy rating on the stock in a report on Wednesday, January 30th. JPMorgan Chase & Co. restated a buy rating on shares of Amazon.com in a report on Monday, April 29th. Finally, KeyCorp restated a hold rating on shares of Amazon.com in a report on Tuesday, January 29th. Five equities research analysts have rated the stock with a hold rating and forty-three have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $2,181.89.

Shares of NASDAQ AMZN opened at $1,869.00 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. Amazon.com has a fifty-two week low of $1,307.00 and a fifty-two week high of $2,050.50. The company has a market capitalization of $921.23 billion, a PE ratio of 92.80, a price-to-earnings-growth ratio of 2.13 and a beta of 1.62.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, April 25th. The e-commerce giant reported $7.09 earnings per share for the quarter, topping the consensus estimate of $4.61 by $2.48. The firm had revenue of $59.70 billion for the quarter, compared to the consensus estimate of $59.73 billion. Amazon.com had a return on equity of 28.91% and a net margin of 4.97%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.27 earnings per share. On average, equities research analysts anticipate that Amazon.com will post 26.59 earnings per share for the current year.

In other news, CEO Jeffrey A. Wilke sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $1,934.42, for a total value of $4,836,050.00. Following the completion of the sale, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $19,344,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey A. Wilke sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,811.14, for a total value of $3,622,280.00. Following the completion of the sale, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $18,111,400. The disclosure for this sale can be found here. Insiders sold a total of 15,010 shares of company stock valued at $27,296,027 in the last three months. Insiders own 16.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of AMZN. Northwestern Mutual Wealth Management Co. boosted its stake in Amazon.com by 3.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 54,608 shares of the e-commerce giant’s stock valued at $109,373,000 after purchasing an additional 1,599 shares during the period. Ironwood Investment Counsel LLC lifted its stake in shares of Amazon.com by 39.7% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 535 shares of the e-commerce giant’s stock worth $1,071,000 after acquiring an additional 152 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of Amazon.com by 2.3% in the 3rd quarter. Panagora Asset Management Inc. now owns 447,545 shares of the e-commerce giant’s stock worth $896,433,000 after acquiring an additional 10,119 shares during the period. Lodestar Investment Counsel LLC IL lifted its stake in shares of Amazon.com by 60.6% in the 4th quarter. Lodestar Investment Counsel LLC IL now owns 959 shares of the e-commerce giant’s stock worth $1,440,000 after acquiring an additional 362 shares during the period. Finally, Spinnaker Trust lifted its stake in shares of Amazon.com by 16.2% in the 3rd quarter. Spinnaker Trust now owns 789 shares of the e-commerce giant’s stock worth $1,580,000 after acquiring an additional 110 shares during the period. 56.06% of the stock is owned by hedge funds and other institutional investors.

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 third-party sellers through physical stores and online stores.

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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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