Wolfe Research initiates coverage of Amazon.com with a positive outlook, forecasting a 19.19% upside.

From Nasdaq: 2024-07-16 08:41:21

Fintel reports on July 16, 2024, Wolfe Research initiated coverage of Amazon.com (NasdaqGS:AMZN) with an Outperform recommendation, forecasting a 19.19% upside with an average price target of $229.71/share. Analysts predict annual revenue of 658,399MM and non-GAAP EPS of 3.18 for Amazon.com.

Institutional interest in Amazon.com is growing, with 6,735 funds reporting positions, representing a 2.67% increase. The average portfolio weight of all funds dedicated to AMZN is 2.45%, and the put/call ratio stands at 0.85, indicating a bullish outlook. VTSMX, VFINX, Price T Rowe Associates, and Geode Capital Management are among the major shareholders increasing their stakes in the company.

Amazon.com is known for its customer-centric approach and innovative products, driven by principles like customer obsession and long-term thinking. The company has pioneered services like Prime, AWS, and Kindle. Fintel offers comprehensive investing research, including ownership data, fund sentiment, and exclusive stock picks powered by advanced quantitative models. Visit Fintel to learn more about investing insights.



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