Why Has MKM Partners Given Amazon (NASDAQ:AMZN) a $800.0 Price Target
MKM Partners has just issued a “Buy” rating for Amazon (NASDAQ:AMZN) shares. The firm initiated coverage on shares of AMZN in a recent report shared with investors on 15 December. This target implies upside of 21.60% from the stock price of Amazon (NASDAQ:AMZN).
From a total of 39 analysts covering Amazon.com (NASDAQ:AMZN) stock, 36 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 88% of the ratings are positive. The highest target price is $850 while the lowest target price is $490. The mean of all analyst targets is $736.38 with a 7.65% above today’s ($668.85) stock price. Amazon.com was the topic of 57 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Nomura maintained shares on December 9 with “Buy” rating. Canaccord Genuity maintained shares with “Hold” rating and $600 target share price in a report from an October 23. Barclays Capital maintained AMZN stock in a recent report from December 1 with “Overweight” rating. UBS maintained the rating on October 23. UBS has a “Buy” rating and a $700 price target on shares. Finally, Axiom Capital maintained the stock with “Buy” rating in a report issued on an October 27.
Approximately 1.78 million shares of stock traded hands. Amazon.com, Inc. (NASDAQ:AMZN) has risen 52.64% since May 12, 2015 and is uptrending. It has outperformed by 56.32% the S&P500.
The overall sentiment of institutions has increased to 1.49 in Q2 2015. Its up 0.37, from 1.12 in 2015Q2. The ratio improved, as 67 institutions have sold all the shares of Amazon.com, Inc. that they owned while 376 funds have taken shares off the table. 166 funds have purchased shares for the first time while 493 added to their positions. These institutions now hold 325.29 million shares or 4.94% more than the 309.99 million shares they owned in 2015Q2.
The Fund Huntington Steele Llc currently is holding shares equating to 23.61% of its total portfolio in Amazon.com, Inc. representing a total of 103,872 shares. Another fund,Tiger Global Management Llc, is holding a total of 3.19 million shares equating to 20.13% of their holdings. Additionally, Tybourne Capital Management Hk Ltd has a 504,001 share stake in Amazon.com, Inc. which represents 18.16% of their total portfolio. The Fund, Brighton Jones Llc, based out of Washington, has also built up a stake in the stock, which represents a total of 17.93% of their total portfolio. Finally Telemark Asset Management Llc, a fund which is based in the state of Massachusetts reported a total holdings of 100,000 shares.
Insider activity is a very important aspect to track on any stock. Going back to May 4, 2015, shareholders of Amazon.com, Inc. have witnessed 0 insider buys, and a total of 12 selling transactions equating to a net activity of approximately $27.25 million . Stonesifer Patricia Q sold 6,250 shares worth approximately $3.16 million. Wilke Jeffrey A sold 5,908 shares worth approximately $3.16 million. Reynolds Shelley sold 720 shares worth approximately $381,752. Olsavsky Brian T sold 2,098 shares worth approximately $1.11M. The company insider Zapolsky David sold 2,322 shares worth $1.23M.
Amazon.com, Inc. is an e-commerce company. The company has a market cap of $308.32 billion. The Firm sells a range of services and products through its Websites. It has 970.25 P/E ratio. The Company’s products are offered through consumer-facing Websites, which include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.
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.”