Stock Update (NASDAQ:AMZN): Amazon’s new voice-controlled devices broaden competition with Google

[at American City Business Journals] – Amazon.com (AMZN) is ramping up its voice-controlled device business by releasing two cheaper versions of its devices, a move that will widen its market and make the Seattle-based online retailer a larger part of people’s lives. Called Amazon Tap and Amazon Echo Dot, the new devices are less expensive versions of the Amazon Echo, which lets users play music, order taxis, buy groceries and do other tasks with voice commands. Like the Echo, the Dot and the Tap can be used with home automation systems, such as thermostats and security systems. Read more on this. Amazon.com, Inc. (AMZN) , valued at $271.91B, opened this morning at $577.96. A quick look at the market, the company’s stock traded between $573.11 and $579.87 with a one year range of $365.65 to $696.44. Amazon (AMZN) shares are currently priced at 126.13x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.67x earnings multiple for the same period. According to a consensus of 37 analysts, the earnings estimate of $0.58 per share would be $0.58 worse than the year-ago quarter and a $0.25 sequential decrease. The full-year EPS estimate is $4.60 which would be a $3.35 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $27.96 Billion. If reported, that would be a 23.06% increase over the year-ago quarter. More recently, Canaccord Genuity upgraded AMZN from Hold to Buy (Feb 18, 2016). Previously, Susquehanna Initiated AMZN at to Positive. When considering if perhaps the stock is under or overvalued, the average price target is $736.27, which is 27.39% above where the stock opened this morning. See more in (NASDAQ:AMZN) Similar Articles: Stock Update (NASDAQ:AMZN): Sorry, Amazon: Spotify choses Google over AWS for big cloud deal Market Update (NASDAQ:AMZN): First Amazon Dash Replenishment Devices Now Available Market Update (NASDAQ:AMZN): Oracle: JMP Says Sell on Amazon Competition, Questionable Cloud Deals