KeyBanc analyst Edward Yruma maintained a Hold rating on Amazon (NASDAQ: AMZN) yesterday. The company’s shares closed yesterday at $1789.30.
Yruma noted:
“We remain confident that AWS revenue can grow to $46B by 2020 based on current cloud momentum and new products. We also tracked a 31% y/ y upswing in AWS job postings in 3Q18 compared to 32% last year. Continued growth in job openings could support the future growth trajectory. We will also be at AWS’s annual re:Invent conference on Nov. 26-30 looking for continued product innovation and announcements.”
According to TipRanks.com, Yruma is a 4-star analyst with an average return of 6.1% and a 54.5% success rate. Yruma covers the Services sector, focusing on stocks such as Wal-Mart Stores Inc, Stitch Fix Inc, and Tapestry Inc.
Currently, the analyst consensus on Amazon is a Strong Buy with an average price target of $2201.30.
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The company has a one-year high of $2050.50 and a one-year low of $962.50. Currently, Amazon has an average volume of 5.21M.
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