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Amazon (AMZN): New Buy Recommendation for This Technology Giant

In a report released today, Brian Fitzgerald from Wells Fargo maintained a Buy rating on Amazon (AMZNResearch Report), with a price target of $4250.00. The company’s shares closed last Thursday at $2776.91, close to its 52-week low of $2707.04.

According to TipRanks.com, Fitzgerald is a top 100 analyst with an average return of 27.9% and a 65.4% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as Integral Ad Science, Uber Technologies, and LiveRamp Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amazon with a $4237.85 average price target, a 49.5% upside from current levels. In a report issued on January 27, BMO Capital also assigned a Buy rating to the stock with a $3600.00 price target.

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Based on Amazon’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $111 billion and net profit of $3.16 billion. In comparison, last year the company earned revenue of $96.15 billion and had a net profit of $6.33 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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