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Saturday, April 10, 2021

Needham & Company have Reinstated the ‘Buy’ Rating for the stocks of AMZN

The stocks of AMZN have received their ‘buy’ rating from the research analysts working at Needham & Company as reported in one of their research reports. According to AnalystRatings, this report was then submitted to several investors and clients who have been a part of the company. Currently, AMZN has a price objective of $3700 from Needham & Company. But this very price target set by the equities firm does indicate an increase of 17.16% on the current price of the company. 

There have been quite a few research firms that have issued their findings on the stocks of Amazon. Zacks Investment Research has already worked its way on the ratings of AMZN, going from a ‘sell’ to a ‘hold’, along with a target price of $3436. BidaskClub, too, went ahead and upgraded the shares of the company from a rating of ‘sell’ to that of ‘hold’. Societe Generale also increased the objective price of the company from $2730 to $3660, with a rating of ‘buy’.

What Has Been the Consensus on the Stocks of AMZN?

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Four of the research analysts involved in the process have already given the stocks a rating of hold, while forty-eight of them have given a rating of buy. Currently, AMZN has a rating of ‘buy’ on an average- with the target price being $3587.67. 

The stocks of the company opened up at $3158 last Tuesday. The moving average over 50 days for AMZN is $3164.72, while that of the 200-days is $3039.88. The market cap of the company is $1.58 trillion, with a PEG ratio staked at 3.18, and a beta fixed at 1.20. The quick ratio of the firm is 0.88, while the current ratio is 1.11.

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