Fintel reports that on October 2, 2023, Morgan Stanley reiterated coverage of Amazon.com (NASDAQ:AMZN) with a Overweight recommendation.
Analyst Price Forecast Suggests 33.87% Upside
As of August 31, 2023, the average one-year price target for Amazon.com is 173.31. The forecasts range from a low of 129.28 to a high of $241.50. The average price target represents an increase of 33.87% from its latest reported closing price of 129.46.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Amazon.com is 575,744MM, an increase of 7.01%. The projected annual non-GAAP EPS is 1.72.
What is the Fund Sentiment?
There are 6083 funds or institutions reporting positions in Amazon.com. This is an increase of 162 owner(s) or 2.74% in the last quarter. Average portfolio weight of all funds dedicated to AMZN is 2.16%, an increase of 15.46%. Total shares owned by institutions increased in the last three months by 1.84% to 6,766,456K shares. 
The put/call ratio of AMZN is 0.86, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 272,001K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 269,629K shares, representing an increase of 0.87%. The firm increased its portfolio allocation in AMZN by 17.47% over the last quarter.
Price T Rowe Associates holds 216,527K shares representing 2.10% ownership of the company. In it's prior filing, the firm reported owning 189,282K shares, representing an increase of 12.58%. The firm increased its portfolio allocation in AMZN by 203.20% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 212,535K shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 208,025K shares, representing an increase of 2.12%. The firm increased its portfolio allocation in AMZN by 16.79% over the last quarter.
Geode Capital Management holds 170,152K shares representing 1.65% ownership of the company. In it's prior filing, the firm reported owning 165,309K shares, representing an increase of 2.85%. The firm increased its portfolio allocation in AMZN by 17.51% over the last quarter.
Jpmorgan Chase holds 134,807K shares representing 1.31% ownership of the company. In it's prior filing, the firm reported owning 134,757K shares, representing an increase of 0.04%. The firm increased its portfolio allocation in AMZN by 12.62% over the last quarter.
Amazon.com Background Information
(This description is provided by the company.)
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon.
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This story originally appeared on Fintel.
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