In a report released today, Michael Pachter from Wedbush reiterated a Buy rating on Amazon.com Inc. (AMZN), with a price target of $2350. The company’s shares closed on Friday at $1964.52, close to its 52-week high of $2050.50.
According to TipRanks.com, Pachter is a 2-star analyst with an average return of 0.5% and a 50.9% success rate. Pachter covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amazon.com Inc. with a $2271.83 average price target, a 15.6% upside from current levels. In a report issued on July 9, Barclays also maintained a Buy rating on the stock with a $2050 price target.
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Amazon.com Inc.’s market cap is currently $966.5B and has a P/E ratio of 82.01. The company has a Price to Book ratio of 19.97.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock.
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