Needham Assigns a Buy Rating on Amazon (AMZN)

By Ryan Adsit

In a report released today, Laura Martin from Needham assigned a Buy rating to Amazon (AMZNResearch Report), with a price target of $3700.00. The company’s shares closed last Monday at $3158.00.

According to TipRanks.com, Martin is a top 100 analyst with an average return of 28.7% and a 67.1% success rate. Martin covers the Services sector, focusing on stocks such as Peloton Interactive, World Wrestling, and Walt Disney.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amazon with a $3819.89 average price target, representing a 21.0% upside. In a report issued on November 27, Truist Financial also reiterated a Buy rating on the stock with a $3650.00 price target.

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Amazon’s market cap is currently $1586.8B and has a P/E ratio of 93.30. The company has a Price to Book ratio of 23.58.

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Amazon.com, Inc. engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca. The International segment offers retail sales of consumer products and subscriptions through internationally-focused websites. The Amazon Web Services segment involves in the global sales of compute, storage, database, and AWS service offerings for start-ups, enterprises, government agencies, and academic institutions. The company was founded by Jeffrey P. Bezos in July 1994 and is headquartered in Seattle, WA.