Cantor Fitzgerald Believes Amazon (NASDAQ: AMZN) Still Has Room to Grow

By Jason Carr

In a report released today, Naved Khan from Cantor Fitzgerald reiterated a Buy rating on Amazon (NASDAQ: AMZN), with a price target of $1050. The company’s shares opened today at $996, close to its 52-week high of $1016.50.

Khan wrote:

“Amazon would acquire Whole Foods in an all-cash transaction valued at $13.7B. The deal is subject to approval from both the regulators and shareholders and the company expects the deal to close in 2H17. Through Whole Foods, Amazon would gain a national store footprint in the US along with a presence in Canada and the U.K, with over 460 stores in total.”

According to TipRanks.com, Khan is a 5-star analyst with an average return of 21.8% and a 85.2% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, TripAdvisor Inc, and Travelzoo Inc.

Currently, the analyst consensus on Amazon is Strong Buy and the average price target is $1111.26, representing an 11.6% upside.

In a report issued on June 6, Maxim Group also reiterated a Buy rating on the stock with a $1300 price target.

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.

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.