Amazon Gets a Hold Rating from KeyBanc

By Carrie Williams

In a report released yesterday, Brent Bracelin from KeyBanc reiterated a Hold rating on Amazon (NASDAQ: AMZN). The company’s shares closed yesterday at $964.17, close to its 52-week high of $1016.50.

Bracelin noted:

“We remain bullish on the five-year prospects for AWS and are encouraged by 2Q cloud activity picking up. However, investor optimism is partially reflected in the valuation.”

According to TipRanks.com, Bracelin is a 4-star analyst with an average return of 8.2% and a 65.2% success rate. Bracelin covers the Technology sector, focusing on stocks such as Brocade Communication Systems Inc, Cornerstone Ondemand, and Riverbed Technology.

Amazon has an analyst consensus of Strong Buy, with a price target consensus of $1111.26.

Based on Amazon’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $35.71 billion and quarterly net profit of $724 million. In comparison, last year the company earned revenue of $29.13 billion and had a net profit of $513 million.

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