Oppenheimer Believes Amazon (NASDAQ: AMZN) Won’t Stop Here

By Ryan Adsit

Oppenheimer analyst Jason Helfstein reiterated a Buy rating on Amazon (NASDAQ: AMZN) today and set a price target of $1100. The company’s shares closed last Friday at $961.35, close to its 52-week high of $962.79.

Helfstein wrote:

“We are increasing our price target to $1,100 (from $970) following a rebuild of our model, and maintaining our Outperform rating. While we still believe Amazon is a “must own” within large-cap given a number of greenfield opportunities, and the leading position in global eCommerce, we believe Street estimates may be aggressive on margins.”

According to TipRanks.com, Helfstein is a 5-star analyst with an average return of 12.5% and a 62.4% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, Interxion Holding NV, and IAC/InterActiveCorp.

Currently, the analyst consensus on Amazon is Strong Buy and the average price target is $1085.96, representing a 13.0% upside.

In a report issued on May 1, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $1050 price target.

Amazon’s market cap is currently $459.5B and has a P/E ratio of 180.90. The company has a book value ratio of 21.2017.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is neutral on the stock. Most recently, in January 2012, Jonathan Rubinstein, a Director at AMZN bought 165 shares for a total of $33,165.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.