StockNews.com Downgrades Amazon.com (NASDAQ:AMZN) to Sell

Amazon.com (NASDAQ:AMZN) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other analysts have also recently commented on AMZN. MKM Partners decreased their price target on shares of Amazon.com from $4,100.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday, April 20th. Canaccord Genuity Group dropped their price target on shares of Amazon.com from $4,200.00 to $3,750.00 in a research note on Friday, April 29th. DA Davidson cut their price target on shares of Amazon.com from $3,900.00 to $3,125.00 in a report on Friday, April 29th. Cowen dropped their price objective on Amazon.com from $4,400.00 to $4,250.00 in a research report on Friday, April 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $3,700.00 price target on shares of Amazon.com in a research report on Monday, May 2nd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and thirty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com currently has an average rating of “Buy” and a consensus target price of $3,780.28.

NASDAQ:AMZN opened at $2,302.93 on Friday. The firm has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 55.59, a price-to-earnings-growth ratio of 3.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.71. The business has a fifty day moving average price of $2,762.17 and a 200-day moving average price of $3,065.88. Amazon.com has a one year low of $2,025.20 and a one year high of $3,773.08.

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

Amazon.com (NASDAQ:AMZNGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The e-commerce giant reported $4.24 earnings per share for the quarter, missing analysts’ consensus estimates of $8.73 by ($4.49). Amazon.com had a return on equity of 21.60% and a net margin of 4.48%. The firm had revenue of $116.44 billion during the quarter, compared to the consensus estimate of $116.52 billion. During the same quarter in the previous year, the company earned $15.79 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that Amazon.com will post 24.71 earnings per share for the current fiscal year.

In other Amazon.com news, CEO David H. Clark sold 2,270 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $2,169.22, for a total value of $4,924,129.40. Following the sale, the chief executive officer now owns 6,695 shares of the company’s stock, valued at $14,522,927.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 1,181 shares of the company’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $2,262.00, for a total value of $2,671,422.00. Following the transaction, the chief executive officer now owns 92,781 shares in the company, valued at $209,870,622. The disclosure for this sale can be found here. Insiders sold 4,837 shares of company stock valued at $10,642,923 over the last quarter. 12.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Koshinski Asset Management Inc. raised its stake in shares of Amazon.com by 1.7% in the fourth quarter. Koshinski Asset Management Inc. now owns 4,386 shares of the e-commerce giant’s stock valued at $14,624,000 after acquiring an additional 75 shares in the last quarter. Senvest Management LLC purchased a new stake in Amazon.com during the 3rd quarter worth about $9,855,000. Gilman Hill Asset Management LLC raised its position in Amazon.com by 10.5% in the 4th quarter. Gilman Hill Asset Management LLC now owns 749 shares of the e-commerce giant’s stock valued at $2,497,000 after purchasing an additional 71 shares in the last quarter. Kentucky Retirement Systems raised its position in Amazon.com by 1.3% in the 3rd quarter. Kentucky Retirement Systems now owns 25,276 shares of the e-commerce giant’s stock valued at $83,033,000 after purchasing an additional 314 shares in the last quarter. Finally, Columbia Asset Management boosted its stake in shares of Amazon.com by 16.7% in the 3rd quarter. Columbia Asset Management now owns 3,503 shares of the e-commerce giant’s stock valued at $11,509,000 after buying an additional 501 shares during the period. 72.51% of the stock is 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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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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