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TD Cowen Reaffirms "Buy" Rating for Amazon.com (NASDAQ:AMZN)

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Key Points

  • TD Cowen reaffirmed a Buy rating on Amazon and maintained a $350 price target, implying about 32% upside from the prior close.
  • Amazon reported strong quarterly results, with EPS of $2.78 beating estimates and revenue of $181.52 billion also coming in above expectations.
  • Analyst sentiment remains bullish overall, with 56 Buy ratings versus only three Hold ratings and a consensus target price of $313.09.
  • Five stocks we like better than Amazon.com.

Amazon.com (NASDAQ:AMZN)'s stock had its "buy" rating reaffirmed by stock analysts at TD Cowen in a research report issued on Tuesday,Benzinga reports. They currently have a $350.00 target price on the e-commerce giant's stock. TD Cowen's price target indicates a potential upside of 32.34% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. UBS Group restated a "buy" rating and set a $333.00 price objective (up from $304.00) on shares of Amazon.com in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of Amazon.com from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. China Renaissance increased their price target on shares of Amazon.com from $300.00 to $326.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Susquehanna reiterated a "positive" rating and issued a $325.00 price target (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Finally, DA Davidson raised their target price on shares of Amazon.com from $175.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Fifty-six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Amazon.com has an average rating of "Moderate Buy" and a consensus target price of $313.09.

View Our Latest Stock Analysis on AMZN

Amazon.com Stock Performance

NASDAQ:AMZN traded down $4.51 during trading hours on Tuesday, reaching $264.48. 11,372,736 shares of the company's stock were exchanged, compared to its average volume of 49,425,258. The firm has a market capitalization of $2.85 trillion, a price-to-earnings ratio of 31.62, a P/E/G ratio of 2.04 and a beta of 1.46. The company has a 50-day moving average of $230.01 and a 200 day moving average of $229.45. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. Amazon.com has a 1-year low of $196.00 and a 1-year high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $1.15. The firm had revenue of $181.52 billion during the quarter, compared to analysts' expectations of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. Amazon.com's quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.59 EPS. Research analysts anticipate that Amazon.com will post 7.72 EPS for the current year.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 10,649 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $205.43, for a total value of $2,187,624.07. Following the sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at approximately $8,461,661.70. This trade represents a 20.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Rubinstein sold 3,706 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $273.02, for a total transaction of $1,011,812.12. Following the completion of the sale, the director directly owned 74,948 shares in the company, valued at $20,462,302.96. This represents a 4.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 191,593 shares of company stock valued at $46,289,241 over the last three months. Insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Amazon.com

Several institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in Amazon.com during the 4th quarter worth $32,868,735,000. Auto Owners Insurance Co raised its holdings in Amazon.com by 27,376.7% in the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock valued at $2,272,397,000 after acquiring an additional 98,090,585 shares in the last quarter. J. Stern & Co. LLP increased its stake in Amazon.com by 20,598.0% during the fourth quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant's stock valued at $20,308,193,000 after purchasing an additional 87,557,736 shares during the last quarter. Nuveen LLC bought a new stake in Amazon.com during the first quarter valued at $11,674,091,000. Finally, Cardano Risk Management B.V. increased its stake in Amazon.com by 879.4% during the fourth quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant's stock valued at $6,431,199,000 after purchasing an additional 25,017,588 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com News Roundup

Here are the key news stories impacting Amazon.com this week:

About Amazon.com

(Get Free Report)

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon's online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

Further Reading

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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