Amazon (AMZN) Receives a New Rating from a Top Analyst

By Jason Carr

Needham analyst Laura Martin assigned a Buy rating to Amazon (AMZNResearch Report) today and set a price target of $3700.00. The company’s shares closed last Wednesday at $3279.39.

According to TipRanks.com, Martin is a top 100 analyst with an average return of 31.0% and a 66.8% success rate. Martin covers the Services sector, focusing on stocks such as Peloton Interactive, World Wrestling, and CuriosityStream.

Currently, the analyst consensus on Amazon is a Strong Buy with an average price target of $4102.93, a 26.9% upside from current levels. In a report issued on March 31, Barclays also initiated coverage with a Buy rating on the stock with a $3720.00 price target.

See today’s analyst top recommended stocks >>

Amazon’s market cap is currently $1651.4B and has a P/E ratio of 77.10. The company has a Price to Book ratio of 22.12.

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.

Amazon.com, Inc. provides online retail shopping services and also generates revenue from cloud computing services. It operates through three business segments: North America, International, and Amazon Web Services (AWS). The North America and International segments include retail sales of consumer products and subscriptions (like Amazon Prime membership fees). AWS generates revenue from the global sales of compute, storage, database, and other service offerings. Founded by Jeffrey P. Bezos in July 1994, the company is headquartered in Seattle, WA.