Scotiabank Predicts Growth for Amazon, Initiates Coverage
On October 11, 2024, Scotiabank announced it has started covering Amazon.com (XTRA:AMZ), assigning a Sector Outperform rating.
Analyst Expectations Indicate Significant Potential
As of September 25, 2024, Amazon.com has an average one-year price target of 198.10 €/share. Projections range from a low of 161.45 € to a high of 247.11 €. This average suggests a possible rise of 16.00% from its most recent closing price of 170.78 € / share.
Discover other companies with the most promising price targets on our leaderboard.
Strong Revenue Growth on the Horizon
Amazon.com is expected to generate annual revenue of 638,843 million €, reflecting a growth of 5.71%. Additionally, the anticipated annual non-GAAP EPS stands at 2.56.
Institutional Investment Trends
A total of 6,846 funds or institutions have reported positions in Amazon.com, marking an increase of 117 owners, or 1.74%, in the last quarter. The average portfolio share allocated to AMZ has risen by 2.19% to 2.50%. Over the past three months, institutional ownership has increased by 5.67%, with total shares now at 7,337,342K.
The Vanguard Total Stock Market Index Fund Investor Shares holds 295,886K shares, equating to 2.82% ownership, up from 293,875K shares previously—an increase of 0.68%. The firm adjusted its portfolio allocation in AMZ by 4.90% in the last quarter.
Meanwhile, the Vanguard 500 Index Fund Investor Shares owns 235,043K shares (2.24%), up from 230,356K shares, representing a 1.99% increase in shareholding. Their portfolio allocation in AMZ saw an uptick of 3.48% recently.
Geode Capital Management increased its ownership to 193,369K shares (1.84%), up from 187,843K shares, marking a 2.86% rise in its holdings along with a 4.66% increase in portfolio allocation toward AMZ.
Price T Rowe Associates maintained 181,610K shares (1.73%), though it experienced a decrease of 4.46% from 189,705K shares earlier. Their overall portfolio allocation in AMZ increased slightly by 0.13% in the past quarter.
JPMorgan Chase owns 172,868K shares (1.65%), with a modest increase of 0.65% from 171,742K shares, and raised its portfolio allocation in AMZ by 4.72% recently.
Fintel offers extensive investment research tools for individual investors, traders, financial advisors, and small hedge funds. Our data is global, including fundamentals, analyst reports, ownership data, fund sentiment, and more.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
