Nomura Believes AMZN Won’t Stop Here

By Carrie Williams

In a report released yesterday, Anthony Diclemente from Nomura assigned a Buy rating to Amazon (NASDAQ: AMZN), with a price target of $950. The company’s shares closed yesterday at $823.48, close to its 52-week high of $847.21.

According to TipRanks.com, Diclemente is a 5-star analyst with an average return of 11.7% and a 69.3% success rate. Diclemente covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Cinemark Holdings Inc, and Regal Entertainment.

Currently, the analyst consensus on Amazon is Strong Buy and the average price target is $949.65, representing a 15.3% upside.

In a report issued on January 20, Aegis Capital also initiated coverage with a Buy rating on the stock with a $953 price target.

Based on Amazon’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $32.71 billion and quarterly net profit of $252 million. In comparison, last year the company earned revenue of $35.75 billion and had a net profit of $482 million.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is neutral on the stock. Last month, Jonathan Rubinstein, a Director at AMZN bought 165 shares for a total of $33,165.

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.