In a report released yesterday, Brad Erickson from RBC Capital maintained a Buy rating on Amazon (AMZN – Research Report), with a price target of $4000.00. The company’s shares closed last Friday at $3271.20.
According to TipRanks.com, Erickson is a 5-star analyst with an average return of 24.7% and a 51.6% success rate. Erickson covers the Technology sector, focusing on stocks such as Zillow Group Class A, Fiverr International, and Uber Technologies.
Currently, the analyst consensus on Amazon is a Strong Buy with an average price target of $4143.76, a 26.2% upside from current levels. In a report issued on March 25, Evercore ISI also maintained a Buy rating on the stock with a $4300.00 price target.
Based on Amazon’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $137 billion and net profit of $14.32 billion. In comparison, last year the company earned revenue of $126 billion and had a net profit of $7.22 billion.
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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.
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