Cowen Lowers Amazon.com (NASDAQ:AMZN) Price Target to $4,400.00

Amazon.com (NASDAQ:AMZN) had its target price cut by research analysts at Cowen from $4,500.00 to $4,400.00 in a research note issued to investors on Wednesday, The Fly reports. Cowen’s price target would suggest a potential upside of 39.14% from the stock’s previous close.

Several other brokerages have also commented on AMZN. BMO Capital Markets dropped their price target on shares of Amazon.com from $4,100.00 to $3,600.00 and set a “buy” rating on the stock in a research note on Thursday, January 27th. Evercore ISI assumed coverage on shares of Amazon.com in a research note on Tuesday, December 21st. They issued an “outperform” rating on the stock. The Goldman Sachs Group raised their price target on shares of Amazon.com from $4,100.00 to $4,200.00 and gave the company a “buy” rating in a research note on Friday, February 4th. Canaccord Genuity Group dropped their price target on shares of Amazon.com from $4,400.00 to $4,200.00 and set a “buy” rating on the stock in a research note on Friday, February 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Amazon.com from $4,350.00 to $4,500.00 and gave the company an “overweight” rating in a research note on Friday, February 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirty-nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $4,097.47.

Shares of NASDAQ AMZN opened at $3,162.31 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.14 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $3,097.64 and its two-hundred day moving average price is $3,249.51. Amazon.com has a 52-week low of $2,671.45 and a 52-week high of $3,773.08. The stock has a market capitalization of $1.61 trillion, a P/E ratio of 48.82, a P/E/G ratio of 2.34 and a beta of 1.12.

Shares of Amazon.com are going to split on the morning of Monday, June 6th. The 20-1 split was announced on Wednesday, March 9th. The newly minted shares will be distributed to shareholders after the closing bell on Friday, June 3rd.

Amazon.com (NASDAQ:AMZNGet Rating) last announced its quarterly earnings results on Thursday, February 3rd. The e-commerce giant reported $27.75 EPS for the quarter, beating the consensus estimate of $3.89 by $23.86. Amazon.com had a net margin of 7.10% and a return on equity of 27.98%. The company had revenue of $137.41 billion for the quarter, compared to analyst estimates of $137.88 billion. During the same quarter last year, the business earned $14.09 earnings per share. As a group, equities research analysts expect that Amazon.com will post 52.22 earnings per share for the current year.

In related news, CEO Adam Selipsky sold 679 shares of Amazon.com stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $3,150.92, for a total transaction of $2,139,474.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 492 shares of Amazon.com stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $3,009.57, for a total value of $1,480,708.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,397 shares of company stock worth $10,641,586. 14.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in AMZN. MFA Wealth Advisors LLC grew its position in Amazon.com by 295,683.2% during the third quarter. MFA Wealth Advisors LLC now owns 5,714,531 shares of the e-commerce giant’s stock worth $6,075,000 after buying an additional 5,712,599 shares in the last quarter. Norges Bank acquired a new stake in Amazon.com during the fourth quarter valued at approximately $14,053,756,000. Castleview Partners LLC acquired a new stake in Amazon.com during the fourth quarter valued at approximately $1,143,000. Fairfield Bush & CO. boosted its holdings in Amazon.com by 28,715.3% during the fourth quarter. Fairfield Bush & CO. now owns 1,336,741 shares of the e-commerce giant’s stock valued at $11,353,000 after purchasing an additional 1,332,102 shares in the last quarter. Finally, Fortis Advisors LLC boosted its holdings in Amazon.com by 339,079.1% during the third quarter. Fortis Advisors LLC now owns 1,265,138 shares of the e-commerce giant’s stock valued at $2,572,000 after purchasing an additional 1,264,765 shares in the last quarter. 70.01% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Company Profile (Get Rating)

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). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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