Oppenheimer Maintains Their Buy Rating on Amazon (AMZN)

By Ryan Adsit

In a report released today, Jason Helfstein from Oppenheimer maintained a Buy rating on Amazon (AMZNResearch Report), with a price target of $2085. The company’s shares closed on Friday at $1780.75.

Helfstein commented:

“Raising target to $2,085 (from $1,975) and maintaining Outperform rating after revisiting our AWS model to reflect our views on artificial intelligence and its impact on cloud adoption. See detailed white paper Driving the Next Century of Technology. We think AWS is well positioned as AI leads productivity improvements, forcing faster enterprise cloud adoption. The benefit for AWS is twofold: 1) most organizations will gain access to AI through their cloud platform, driving cloud adoption; 2) AI applications and services are high-margin recurring revenues that will help lock in enterprise providers. However, with each new successful AWS “vertical,” customers, regulators and investors will question whether AMZN should spin out AWS. We view this as possible when AMZN matures its advertising and video businesses.”

According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 18.2% and a 65.1% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and Spotify Technology SA.

Currently, the analyst consensus on Amazon is a Strong Buy with an average price target of $2121.92, implying a 19.2% upside from current levels. In a report issued on March 20, Evercore ISI also initiated coverage with a Buy rating on the stock with a $1965 price target.

See today’s analyst top recommended stocks >>

Amazon’s market cap is currently $874.3B and has a P/E ratio of 88.46. The company has a Price to Book ratio of 20.08.

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.