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Progressive Investment Management Corp, managed by Carsten Henningsen, recently executed a significant transaction involving Amazon.Com, Inc. ((AMZN)). The hedge fund reduced its position by 1,516 shares.
Spark’s Take on AMZN Stock
According to Spark, TipRanks’ AI Analyst, AMZN is a Outperform.
Amazon’s strong financial performance and positive earnings call are the most significant factors driving the stock score. The technical analysis suggests positive momentum, but caution is warranted due to near overbought conditions. The high P/E ratio indicates that the stock might be overvalued, but strong growth prospects, especially in AWS and advertising, provide a solid foundation for future performance. The absence of significant corporate events or dividend yield slightly tempers the outlook.
To see Spark’s full report on AMZN stock, click here.
More about Amazon.Com, Inc.
YTD Price Performance: 4.90%
Average Trading Volume: 41,410,288
Current Market Cap: $2471.4B