In a report released today, Rob Sanderson from Loop Capital Markets reiterated a Buy rating on Amazon (AMZN), with a price target of $200.00. The company’s shares closed yesterday at $134.25.
Sanderson covers the Technology sector, focusing on stocks such as Amazon, Meta Platforms, and Pinterest. According to TipRanks, Sanderson has an average return of 9.8% and a 55.02% success rate on recommended stocks.
The word on The Street in general suggests a Strong Buy analyst consensus rating for Amazon with a $175.13 average price target, representing a 30.45% upside. In a report released on August 21, Wedbush also maintained a Buy rating on the stock with a $170.00 price target.
Based on Amazon’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $75.35 billion and a net profit of $6.75 billion. In comparison, last year the company earned a revenue of $64.66 billion and had a GAAP net loss of $2.03 billion.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
Read More on AMZN: