Amazon (AMZN) Received its Third Buy in a Row

After Bank of America Securities and Argus Research gave Amazon (NASDAQ: AMZN) a Buy rating last month, the company received another Buy, this time from Monness. Analyst Brian White maintained a Buy rating on Amazon today and set a price target of $4500.00. The company’s shares closed last Thursday at $3599.92.

According to TipRanks.com, White is a top 100 analyst with an average return of 28.6% and a 77.4% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Alphabet Class A, and Salesforce.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amazon with a $4216.44 average price target, representing a 17.1% upside. In a report issued on July 19, Mizuho Securities also maintained a Buy rating on the stock with a $4400.00 price target.

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Based on Amazon’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $109 billion and net profit of $8.11 billion. In comparison, last year the company earned revenue of $75.45 billion and had a net profit of $2.54 billion.

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Amazon.com, Inc. provides online retail shopping services and also generates revenue from cloud computing services. It operates through three business segments: North America, International, and Amazon Web Services (AWS). The North America and International segments include retail sales of consumer products and subscriptions (like Amazon Prime membership fees). AWS generates revenue from the global sales of compute, storage, database, and other service offerings. Founded by Jeffrey P. Bezos in July 1994, the company is headquartered in Seattle, WA.