Stock Worth Watching: What’s Propelling Amazon.com, Inc. to Reach All Time High?

Stock Worth Watching: What's Propelling Amazon.com, Inc. to Reach All Time High?

The stock of Amazon.com, Inc. (NASDAQ:AMZN) reached all time high today, Oct, 6 and still has $1349.79 target or 60.00% above today’s $843.62 share price. This indicates more upside for the $404.89 billion company. This technical setup was reported by Barchart.com. If the $1349.79 PT is reached, the company will be worth $242.93 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 935,547 shares traded hands. Amazon.com, Inc. (NASDAQ:AMZN) has risen 46.21% since March 3, 2016 and is uptrending. It has outperformed by 37.87% the S&P500.

Analysts await Amazon.com, Inc. (NASDAQ:AMZN) to report earnings on October, 27. They expect $0.82 EPS, up 382.35% or $0.65 from last year’s $0.17 per share. AMZN’s profit will be $393.55 million for 257.20 P/E if the $0.82 EPS becomes a reality. After $1.78 actual EPS reported by Amazon.com, Inc. for the previous quarter, Wall Street now forecasts -53.93% negative EPS growth.

Amazon.com, Inc. (NASDAQ:AMZN) Ratings Coverage

Out of 39 analysts covering Amazon.com (NASDAQ:AMZN), 36 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 92% are positive. Amazon.com has been the topic of 125 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Amazon.com, Inc. (NASDAQ:AMZN) has “Outperform” rating given on Friday, April 29 by RBC Capital Markets. The firm has “Market Outperform” rating by JMP Securities given on Friday, July 29. The company was maintained on Friday, July 29 by Citigroup. As per Friday, April 29, the company rating was maintained by UBS. The stock has “Buy” rating given by Nomura on Tuesday, May 3. The stock of Amazon.com, Inc. (NASDAQ:AMZN) earned “Buy” rating by Monness Crespi & Hardt on Friday, July 24. RBC Capital Markets maintained Amazon.com, Inc. (NASDAQ:AMZN) rating on Friday, September 16. RBC Capital Markets has “Outperform” rating and $1000 price target. As per Friday, August 21, the company rating was upgraded by Vetr. The rating was initiated by Susquehanna with “Positive” on Friday, January 15. UBS maintained it with “Buy” rating and $900 target price in Friday, July 29 report.

According to Zacks Investment Research, “Amazon.com, Inc. seeks to be the world’s most customer-centric company, where customers can find and discover anything they may want to buy online. The company lists unique items in categories such as books, music, DVDs, videos, consumer electronics, toys, camera and photo items, software, computer and video games, tools and hardware, lawn and patio items, kitchen products, and wireless products.”

Insitutional Activity: The institutional sentiment increased to 1.46 in 2016 Q2. Its up 0.33, from 1.13 in 2016Q1. The ratio increased, as 50 funds sold all Amazon.com, Inc. shares owned while 443 reduced positions. 147 funds bought stakes while 571 increased positions. They now own 303.88 million shares or 18.94% less from 374.87 million shares in 2016Q1.
Amer Money Management Limited Liability Company accumulated 0.36% or 606 shares. Lansdowne Partners (Uk) Llp has invested 13.94% of its portfolio in Amazon.com, Inc. (NASDAQ:AMZN). Atlas Browninc has 0.22% invested in the company for 773 shares. Moreover, Burns J W And Ny has 0.51% invested in Amazon.com, Inc. (NASDAQ:AMZN) for 2,361 shares. The Sweden-based Swedbank has invested 1.83% in Amazon.com, Inc. (NASDAQ:AMZN). Principal Fincl Grp Inc owns 721,242 shares or 0.72% of their US portfolio. Raymond James & Associates holds 0.37% of its portfolio in Amazon.com, Inc. (NASDAQ:AMZN) for 163,958 shares. Capital Intl Ltd Ca accumulated 1.47% or 28,430 shares. Advsr Asset Inc last reported 0.48% of its portfolio in the stock. The Switzerland-based Pictet North America Advsr has invested 0.19% in Amazon.com, Inc. (NASDAQ:AMZN). Oxbow Advisors Llc accumulated 0.24% or 2,373 shares. Delta Lloyd Nv holds 1.54% of its portfolio in Amazon.com, Inc. (NASDAQ:AMZN) for 64,008 shares. Js Capital Management Limited Co holds 2.7% of its portfolio in Amazon.com, Inc. (NASDAQ:AMZN) for 19,500 shares. Zweig last reported 72,612 shares in the company. D E Shaw And Co accumulated 1.57% or 1.19M shares.

Insider Transactions: Since May 3, 2016, the stock had 0 insider buys, and 16 insider sales for $1.48 billion net activity. 4,890 shares were sold by WILKE JEFFREY A, worth $3.76M on Monday, August 15. Zapolsky David also sold $751,870 worth of Amazon.com, Inc. (NASDAQ:AMZN) on Tuesday, May 3. STONESIFER PATRICIA Q sold $4.54 million worth of Amazon.com, Inc. (NASDAQ:AMZN) on Monday, June 6. BEZOS JEFFREY P had sold 1.00M shares worth $671.29M on Tuesday, May 3. $1.77 million worth of Amazon.com, Inc. (NASDAQ:AMZN) was sold by Jassy Andrew R on Monday, August 15. $7.61M worth of Amazon.com, Inc. (NASDAQ:AMZN) shares were sold by Blackburn Jeffrey M. 4,000 shares with value of $2.83 million were sold by RYDER THOMAS O on Monday, May 16.

More notable recent Amazon.com, Inc. (NASDAQ:AMZN) news were published by: Wsj.com which released: “Delivery Drivers Sue Amazon, Alleging Violation of Labor Laws” on October 06, 2016, also Fool.com with their article: “Amazon.com, Inc. Introduces Prime Reading — a New Benefit for Prime Members” published on October 05, 2016, Fool.com published: “Better Buy: eBay Inc. vs. Amazon.com” on October 04, 2016. More interesting news about Amazon.com, Inc. (NASDAQ:AMZN) were released by: Fool.com and their article: “Can Amazon.com Inc. Hit $1000 Per Share?” published on October 03, 2016 as well as Investorplace.com‘s news article titled: “Amazon.com, Inc., VMware, Inc. Expected to Announce Cloud Deal” with publication date: October 05, 2016.

AMZN Company Profile

Amazon.com, Inc., incorporated on May 28, 1996, offers a range of services and products through its Websites. The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. The Firm has three divisions: North America, International and Amazon Web Services (AWS). The Company’s North America segment focuses on retail sales of consumer products from sellers and subscriptions, through its North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx. The Company’s North America segment also includes export sales from its North America-focused Websites.

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