Amazon.com (AMZN) is Upgraded by Argus to Buy

Amazon.com (AMZN) was Upgraded by Argus to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. Argus advised their investors in a research report released on Sep 22, 2016.

Many Wall Street Analysts have commented on Amazon.com. Company shares were Reiterated by RBC Capital Mkts on Sep 16, 2016 to “Outperform”, Firm has raised the Price Target to $ 1000 from a previous price target of $840 .Company shares were Reiterated by MKM Partners on Aug 2, 2016 to “Buy”, Firm has raised the Price Target to $ 995 from a previous price target of $850 .Company shares were Reiterated by Axiom Capital on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 877 from a previous price target of $853 .

On the company’s financial health, Amazon.com reported $1.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.66 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.12. The company had revenue of $30404.00 million for the quarter, compared to analysts expectations of $29566.97 million. The company’s revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Amazon.com opened for trading at $776 and hit $781.37 on the upside on Tuesday, eventually ending the session at $780.22, with a gain of 0.66% or 5.12 points. The heightened volatility saw the trading volume jump to 19,37,164 shares. Company has a market cap of $369,882 M.

In a different news, on Aug 17, 2016, Jeffrey A Wilke (CEO Worldwide Consumer) sold 4,890 shares at $768.90 per share price. According to the SEC, on Aug 17, 2016, Andrew R Jassy (CEO Amazon Web Services) sold 2,305 shares at $769.96 per share price. On Aug 17, 2016, Diego Piacentini (Senior Vice President) sold 5,477 shares at $770.06 per share price, according to the Form-4 filing with the securities and exchange commission.

Amazon.com Inc. (Amazon.com) is an e-commerce company. The Company sells a range of products and services through its Websites. The Company’s products are offered through consumer-facing Websites which include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. It designs its Websites to enable products to be sold by the Company and by third parties across various product categories. It also manufactures and sells electronic devices including Kindle e-readers Fire tablets Fire TVs Echo and Fire phones. Amazon.com operates in two segments: North America and International. The North America segment focuses on retail sales earned through North America-focused Websites. The International segment focuses on the Company’s operations done through its international Websites. It serves developers and enterprises through Amazon Web Services (AWS). It serves authors and independent publishers with Kindle Direct Publishing.

Amazon.com

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