Company Update (NASDAQ:AMZN): Amazon Eyes Return To Record Highs As Rough Start To 2016 Recedes

[at Forbes] – After a rough start to 2016, Amazon is back at record highs and Jeff Bezos is on top in tech. Read more on this. Amazon.com, Inc. (AMZN) , with a current value of $328.45B, finished at $679.75. Shares have traded today between $693.50 and $698.35 per share and has traded between $418.36 and $698.35 over the past year. Priced at 127.53x this year’s forecasted earnings, AMZN shares are relatively expensive compared to the industry’s 13.47x forward p/e ratio. According to a consensus of 33 analysts, the earnings estimate of $1.10 per share would be $0.91 better than the year-ago quarter and a $0.14 sequential increase. The full-year EPS estimate is $5.33 which would be a $4.08 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $29.56 Billion. If realized, that would be a 27.52% increase over the year-ago quarter. In terms of ratings, Raymond James downgraded AMZN from Strong Buy to Outperform (Mar 22, 2016). Previously, Canaccord Genuity upgraded AMZN from Hold to Buy. With the above information in mind, readers should note that the average price target is $793.56, which is 16.74% above where the stock opened this morning. See more in (NASDAQ:AMZN) Similar Articles: Market Update (NASDAQ:AMZN): Amazon.com to Webcast First Quarter 2016 Financial Results Conference Call Company Update (NASDAQ:AMZN): Google Express vs. Amazon Prime Now (GOOG, AMZN) Company Update: Amazon.com Inc (NASDAQ:AMZN) – Amazon shares plunge as record profit still misses estimates