Company Update (NASDAQ:AMZN): Amazon dives into competitive San Francisco restaurant delivery business

[at American City Business Journals] – “San Francisco is known for incredible restaurants, and now Prime members across the city can enjoy their favorite local restaurants at home or at the office,” said Gus Lopez, general manager of Amazon Restaurants. As of now, there are 115 participating restaurants across San Francisco “with more coming soon,” said the company. Read more: In S.F., will Amazon eat the delivery business? Read more on this. Amazon.com, Inc. (AMZN) , with a current market cap of $291.82B, started trading this morning at $626.17. Looking at the stock, its one day range is $616.66 to $626.75 and has traded between $414.55 and $696.44 over the past year. AMZN shares are currently priced at 130.73x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.53x earnings multiple. In a review of the consensus earnings estimate this quarter, 37 sell-side analysts are looking at $0.58 per share, which would be $0.58 worse than the year-ago quarter and a $0.17 sequential decrease. Investors should also note that the full-year EPS estimate of $4.79 is a $3.54 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 $27.99 Billion. If realized, that would be a 23.20% increase over the year-ago quarter. More recently, Raymond James downgraded AMZN from Strong Buy to Outperform (Mar 22, 2016). Previously, Canaccord Genuity upgraded AMZN from Hold to Buy. Investors should keep in mind is that the average price target is $733.39, which is 17.12% above where the stock opened this morning. See more in (NASDAQ:AMZN) Similar Articles: Company Update: Amazon.com Inc (NASDAQ:AMZN) – Why You Should Watch FB, GOOGL, AMZN Ahead Of Earnings Company Update (NASDAQ:AMZN): Google Express vs. Amazon Prime Now (GOOG, AMZN) Stock Update (NASDAQ:AMZN): How Amazon.com Inc’s Cloud Business Is Doing In 5 Numbers