Canaccord Genuity Group Cuts Amazon.com (NASDAQ:AMZN) Price Target to $3,750.00

Amazon.com (NASDAQ:AMZN) had its price target cut by equities research analysts at Canaccord Genuity Group from $4,200.00 to $3,750.00 in a research report issued to clients and investors on Friday, The Fly reports. Canaccord Genuity Group’s price objective points to a potential upside of 44.77% from the company’s current price.

AMZN has been the topic of several other research reports. Morgan Stanley dropped their price target on Amazon.com from $4,200.00 to $3,800.00 in a research note on Friday. Citigroup began coverage on Amazon.com in a research note on Wednesday, April 20th. They set a “buy” rating and a $4,100.00 price target on the stock. Exane BNP Paribas began coverage on Amazon.com in a research note on Tuesday, March 29th. They set an “underperform” rating and a $2,800.00 price target on the stock. Monness Crespi & Hardt dropped their price target on Amazon.com from $4,500.00 to $3,700.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Susquehanna lowered their target price on Amazon.com from $5,000.00 to $3,800.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $3,881.16.

Shares of AMZN stock opened at $2,590.35 on Friday. Amazon.com has a 1-year low of $2,671.45 and a 1-year high of $3,773.08. The stock’s fifty day moving average price is $3,067.85 and its 200 day moving average price is $3,232.41. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.14 and a quick ratio of 0.91. The company has a market cap of $1.32 trillion, a price-to-earnings ratio of 44.64, a price-to-earnings-growth ratio of 2.29 and a beta of 1.12.

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

Amazon.com (NASDAQ:AMZNGet Rating) last announced its earnings results on Thursday, April 28th. The e-commerce giant reported $7.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $9.33 by ($1.95). The business had revenue of $116.44 billion for the quarter, compared to analysts’ expectations of $116.52 billion. Amazon.com had a return on equity of 27.98% and a net margin of 7.10%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $15.79 earnings per share. As a group, equities research analysts anticipate that Amazon.com will post 49.81 earnings per share for the current year.

In related news, CEO Adam Selipsky sold 679 shares of the stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $3,150.92, for a total value of $2,139,474.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Shelley Reynolds sold 222 shares of the stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $3,150.92, for a total value of $699,504.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,397 shares of company stock valued at $10,641,586. Insiders own 14.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Davidson Trust Co. grew its position in Amazon.com by 1.8% in the third quarter. Davidson Trust Co. now owns 167 shares of the e-commerce giant’s stock worth $549,000 after acquiring an additional 3 shares during the period. PFG Private Wealth Management LLC grew its position in Amazon.com by 1.3% in the third quarter. PFG Private Wealth Management LLC now owns 229 shares of the e-commerce giant’s stock worth $752,000 after acquiring an additional 3 shares during the period. Charter Oak Capital Management LLC grew its position in Amazon.com by 1.3% in the third quarter. Charter Oak Capital Management LLC now owns 233 shares of the e-commerce giant’s stock worth $765,000 after acquiring an additional 3 shares during the period. Madrona Financial Services LLC grew its position in Amazon.com by 1.6% in the third quarter. Madrona Financial Services LLC now owns 186 shares of the e-commerce giant’s stock worth $611,000 after acquiring an additional 3 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. grew its position in Amazon.com by 4.0% in the third quarter. Lorne Steinberg Wealth Management Inc. now owns 78 shares of the e-commerce giant’s stock worth $256,000 after acquiring an additional 3 shares during the period. Institutional investors own 70.01% of the company’s stock.

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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