Wolfe Research Initiates Coverage of Amazon.com (AMZN) with Outperform Recommendation
Fintel reports that on July 16, 2024, Wolfe Research initiated coverage of Amazon.com (NasdaqGS:AMZN) with a Outperform recommendation.
Analyst Price Forecast Suggests 19.19% Upside
As of July 4, 2024, the average one-year price target for Amazon.com is $229.71/share. The forecasts range from a low of $181.80 to a high of $525.00. The average price target represents an increase of 19.19% from its latest reported closing price of $192.72 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Amazon.com is 658,399MM, an increase of 11.45%. The projected annual non-GAAP EPS is 3.18.
What is the Fund Sentiment?
There are 6,735 funds or institutions reporting positions in Amazon.com. This is an increase of 175 owner(s) or 2.67% in the last quarter. Average portfolio weight of all funds dedicated to AMZN is 2.45%, an increase of 6.68%. Total shares owned by institutions decreased in the last three months by 0.16% to 7,112,998K shares. 
The put/call ratio of AMZN is 0.85, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 293,875K shares representing 2.82% ownership of the company. In its prior filing, the firm reported owning 291,922K shares , representing an increase of 0.66%. The firm increased its portfolio allocation in AMZN by 8.96% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 230,356K shares representing 2.21% ownership of the company. In its prior filing, the firm reported owning 222,148K shares , representing an increase of 3.56%. The firm increased its portfolio allocation in AMZN by 8.54% over the last quarter.
Price T Rowe Associates holds 189,705K shares representing 1.82% ownership of the company. In its prior filing, the firm reported owning 192,440K shares , representing a decrease of 1.44%. The firm decreased its portfolio allocation in AMZN by 46.93% over the last quarter.
Geode Capital Management holds 187,843K shares representing 1.81% ownership of the company. In its prior filing, the firm reported owning 180,839K shares , representing an increase of 3.73%. The firm increased its portfolio allocation in AMZN by 9.02% over the last quarter.
Jpmorgan Chase holds 171,742K shares representing 1.65% ownership of the company. In its prior filing, the firm reported owning 164,160K shares , representing an increase of 4.41%. The firm increased its portfolio allocation in AMZN by 9.35% over the last quarter.
Amazon.com Background Information
(This description is provided by the company.)
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon.
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This story originally appeared on Fintel.