Monness Believes Amazon.com Inc. (NASDAQ: AMZN) Won’t Stop Here

By Ryan Adsit

Monness analyst Brian White maintained a Buy rating on Amazon.com Inc. (AMZNResearch Report) on July 5 and set a price target of $2300. The company’s shares closed on Friday at $1942.91, close to its 52-week high of $2050.50.

According to TipRanks.com, White is a top 25 analyst with an average return of 26.7% and a 76.2% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Salesforce.com, and Alphabet Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amazon.com Inc. with a $2243.71 average price target, implying a 15.5% upside from current levels. In a report issued on June 21, RBC Capital also reiterated a Buy rating on the stock with a $2300 price target.

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Amazon.com Inc.’s market cap is currently $955.9B and has a P/E ratio of 81.11. The company has a Price to Book ratio of 19.75.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock.

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.