JMP Securities Cuts Amazon.com (NASDAQ:AMZN) Price Target to $3,450.00

Amazon.com (NASDAQ:AMZN) had its price objective cut by analysts at JMP Securities from $3,600.00 to $3,450.00 in a report released on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the e-commerce giant’s stock. JMP Securities’ price objective would suggest a potential upside of 42.17% from the stock’s previous close.

Several other equities research analysts also recently issued reports on AMZN. DA Davidson cut their target price on shares of Amazon.com from $3,900.00 to $3,125.00 in a research note on Friday, April 29th. BNP Paribas initiated coverage on Amazon.com in a research report on Tuesday, March 29th. They issued an “underperform” rating and a $2,800.00 price objective for the company. Credit Suisse Group decreased their target price on Amazon.com from $4,100.00 to $3,700.00 in a report on Friday, April 29th. Citigroup initiated coverage on Amazon.com in a report on Wednesday, April 20th. They set a “buy” rating and a $4,100.00 price target for the company. Finally, StockNews.com downgraded shares of Amazon.com from a “hold” rating to a “sell” rating in a report on Saturday. Three research analysts have rated the stock with a sell rating, two have given a hold rating and thirty-six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $3,752.37.

AMZN traded up $22.45 on Wednesday, hitting $2,426.64. 174,000 shares of the company were exchanged, compared to its average volume of 4,912,631. The stock’s fifty day moving average is $2,725.76 and its 200-day moving average is $3,046.95. Amazon.com has a 12 month low of $2,025.20 and a 12 month high of $3,773.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.71 and a current ratio of 0.96. The company has a market cap of $1.23 trillion, a PE ratio of 59.07, a PEG ratio of 3.52 and a beta of 1.23.

Amazon.com’s stock is scheduled to split before the market opens on Monday, June 6th. The 20-1 split was announced on Wednesday, March 9th. The newly minted shares will be payable to shareholders after the closing bell on Friday, June 3rd.

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

In related news, CEO Andrew R. Jassy sold 1,181 shares of the 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 completion of the sale, the chief executive officer now directly owns 92,781 shares in the company, valued at $209,870,622. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David H. Clark sold 2,270 shares of the company’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total value of $4,924,129.40. Following the completion of the sale, the chief executive officer now owns 6,695 shares in the company, valued at approximately $14,522,927.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,837 shares of company stock valued at $10,642,923. 12.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Holistic Financial Partners raised its position in shares of Amazon.com by 0.5% in the 3rd quarter. Holistic Financial Partners now owns 604 shares of the e-commerce giant’s stock worth $1,984,000 after acquiring an additional 3 shares in the last quarter. Beacon Financial Advisory LLC increased its holdings in Amazon.com by 0.8% in the third quarter. Beacon Financial Advisory LLC now owns 390 shares of the e-commerce giant’s stock worth $1,281,000 after purchasing an additional 3 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in Amazon.com by 0.5% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 647 shares of the e-commerce giant’s stock valued at $2,125,000 after buying an additional 3 shares during the period. Optimal Asset Management Inc. boosted its holdings in shares of Amazon.com by 0.3% during the 3rd quarter. Optimal Asset Management Inc. now owns 1,306 shares of the e-commerce giant’s stock worth $4,290,000 after buying an additional 4 shares in the last quarter. Finally, Towercrest Capital Management grew its position in shares of Amazon.com by 3.7% during the 3rd quarter. Towercrest Capital Management now owns 111 shares of the e-commerce giant’s stock worth $365,000 after buying an additional 4 shares during the period. Hedge funds and other institutional investors own 72.51% 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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