Stock Update (NASDAQ:AMZN): Amazon, Alphabet Extend Breakouts Ahead Of Earnings

[at Investor’s Business Daily] – Two Internet bigwigs — Amazon (AMZN) and Google parent Alphabet (GOOGL) — extended their breakouts Friday ahead of both companies’ first-quarter earnings reports. Alphabet shares continued a slight ascent … Read more on this. Amazon.com, Inc. (AMZN) , with a current market cap of $295.16B, opened at $621.92. During the trading session, AMZN traded between $618.11 to $626.77 with the price of the stock fluctuating between $374.40 to $696.44 over the last 52 weeks. AMZN shares are currently priced at 131.51x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.58x earnings multiple. In a review of the consensus earnings estimate this quarter, 36 sell-side analysts are looking at $0.58 per share, which would be $0.58 worse than the year-ago quarter and a $0.30 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $4.72 is a $3.47 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $27.98 Billion. If realized, that would be a 23.15% increase over the year-ago quarter. Recently, Raymond James downgraded AMZN from Strong Buy to Outperform (Mar 22, 2016). Previously, Canaccord Genuity upgraded AMZN from Hold to Buy. The average price target for AMZN shares by the analysts covering it is $732.78, which is 17.83% above where the stock opened. See more in (NASDAQ:AMZN) Similar Articles: Company Update: Amazon.com Inc (NASDAQ:AMZN) – Why You Should Watch FB, GOOGL, AMZN Ahead Of Earnings Market Update (NASDAQ:AMZN): Red Hat Earnings Report Ahead: Amazon A Threat In Linux Landscape? Market Update: Amazon.com Inc (NASDAQ:AMZN) – Tech Earnings: Amazon.com Inc and Alphabet Inc Go Bonkers
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