After Monness and Merrill Lynch gave Amazon (NASDAQ: AMZN) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jason Helfstein maintained a Buy rating on Amazon today and set a price target of $4200.00. The company’s shares closed last Tuesday at $3334.69.
According to TipRanks.com, Helfstein is a top 25 analyst with an average return of 44.2% and a 72.1% success rate. Helfstein covers the Technology sector, focusing on stocks such as Spotify Technology SA, Opendoor Technologies, and Zillow Group Class C.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amazon with a $4103.27 average price target, implying a 21.6% upside from current levels. In a report issued on April 7, Piper Sandler also reiterated a Buy rating on the stock with a $3903.00 price target.
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Based on Amazon’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $126 billion and net profit of $7.22 billion. In comparison, last year the company earned revenue of $87.44 billion and had a net profit of $3.27 billion.
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Amazon.com, Inc. provides online retail shopping services and also generates revenue from cloud computing services. It operates through three business segments: North America, International, and Amazon Web Services (AWS). The North America and International segments include retail sales of consumer products and subscriptions (like Amazon Prime membership fees). AWS generates revenue from the global sales of compute, storage, database, and other service offerings. Founded by Jeffrey P. Bezos in July 1994, the company is headquartered in Seattle, WA.
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