Maxim Group Releases a Buy Rating on Amazon

By Carrie Williams

In a report released today, Tom Forte from Maxim Group reiterated a Buy rating on Amazon (NASDAQ: AMZN), with a price target of $1000. The company’s shares closed yesterday at $899.20.

Forte observed:

“The company is expected to report 1Q17 earnings on Thursday, April 27, after market close, with a conference call at 5:30pm ET.”

According to, Forte is ranked 0 out of 5 stars with an average return of -10.7% and a 34.5% success rate. Forte covers the Services sector, focusing on stocks such as Burberry Group, Nordstrom Inc, and Overstockcom.

Currently, the analyst consensus on Amazon is Strong Buy and the average price target is $979.42, representing an 8.9% upside.

In a report issued on April 5, Robert W. Baird also reiterated a Buy rating on the stock with a $850 price target.

Based on the recent corporate insider activity of 54 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.

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