Jefferies Believes Amazon (NASDAQ: AMZN) Still Has Room to Grow

Jefferies analyst Brent Thill maintained a Buy rating on Amazon (AMZNResearch Report) on June 15 and set a price target of $4200.00. The company’s shares closed last Wednesday at $3415.25, close to its 52-week high of $3554.00.

According to TipRanks.com, Thill is a top 100 analyst with an average return of 26.1% and a 75.2% success rate. Thill covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Procore Technologies Inc, and Palantir Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amazon with a $4295.17 average price target, implying a 26.6% upside from current levels. In a report issued on June 2, Morgan Stanley also maintained a Buy rating on the stock with a $4500.00 price target.

See today’s analyst top recommended stocks >>

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.