Amazon (AMZN) Received its Third Buy in a Row
After Merrill Lynch and KeyBanc gave Amazon (NASDAQ: AMZN) a Buy rating last month, the company received another Buy, this time from Wedbush. Analyst Michael Pachter maintained a Buy rating on Amazon today and set a price target of $3700.00. The company’s shares closed last Thursday at $3044.06.
According to TipRanks.com, Pachter is a 3-star analyst with an average return of 2.0% and a 53.7% success rate. Pachter covers the Technology sector, focusing on stocks such as Alphabet Class A, Glu Mobile, and Facebook.
Amazon has an analyst consensus of Strong Buy, with a price target consensus of $3728.53, implying a 25.2% upside from current levels. In a report issued on September 9, Jefferies also maintained a Buy rating on the stock with a $3800.00 price target.
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Amazon’s market cap is currently $1502.6B and has a P/E ratio of 120.30. The company has a Price to Book ratio of 26.57.
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Amazon.com, Inc. engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca. The International segment offers retail sales of consumer products and subscriptions through internationally-focused websites. The Amazon Web Services segment involves in the global sales of compute, storage, database, and AWS service offerings for start-ups, enterprises, government agencies, and academic institutions. The company was founded by Jeffrey P. Bezos in July 1994 and is headquartered in Seattle, WA.
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