Pivotal Research Initiates Coverage on Amazon with Positive Outlook

Analysts Predict Significant Growth for Amazon.com

Fintel reports that on October 11, 2024, Pivotal Research initiated coverage of Amazon.com (XTRA:AMZ) with a Buy recommendation.

Analyst Price Forecast Suggests 14.72% Upside

As of September 25, 2024, the average one-year price target for Amazon.com stands at 198,10 €/share. This forecast varies, ranging from a low of 161,45 € to a high of 247,11 €. The average price target indicates a potential increase of 14.72% from its latest reported closing price of 172,68 € / share.

Discover other companies with the highest price target upside.

Amazon.com is expected to generate projected annual revenue of 638,843MM, reflecting an increase of 5.71%. Furthermore, the projected annual non-GAAP EPS is noted at 2.56.

Institutional Interest in Amazon Grows

What is the Fund Sentiment?

A total of 6,846 funds or institutions report holdings in Amazon.com, marking an increase of 117 owners or 1.74% in the last quarter. The average portfolio weight dedicated to AMZ among these funds is 2.50%, representing a 2.19% increase. Furthermore, total shares owned by institutions rose by 5.67% over the past three months, now totaling 7,337,342K shares.

Key Shareholders Adjust Their Holdings

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 295,886K shares, which equates to 2.82% ownership of Amazon. This is an increase from 293,875K shares previously, reflecting a gain of 0.68%. The firm has raised its allocation in AMZ by 4.90% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares owns 235,043K shares, or 2.24% of the company, up from 230,356K shares, showing an increase of 1.99%. This fund has increased its AMZ allocation by 3.48% in the last quarter.

Geode Capital Management holds 193,369K shares for a 1.84% stake, up from 187,843K shares, which reflects a 2.86% increase. The firm has raised its portfolio stake in AMZ by 4.66% recently.

Price T Rowe Associates possesses 181,610K shares or 1.73% of the company, down from 189,705K shares, indicating a decrease of 4.46%. However, this firm slightly increased its portfolio allocation in AMZ by 0.13% this quarter.

JPMorgan Chase holds 172,868K shares, representing 1.65% ownership, up from 171,742K shares, marking an increase of 0.65%. The firm has raised its AMZ allocation by 4.72% in the last quarter.

Fintel is a leading investment research platform for individual investors, traders, financial advisors, and small hedge funds. Our extensive data encompasses fundamentals, analyst reports, ownership statistics, fund sentiment, insider trading, options flow, and more, all aimed at improving profitability through advanced, backtested quantitative models.

Click to Learn More

This story originally appeared on Fintel.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.