New Buy Rating for Amazon (AMZN), the Technology Giant

RBC Capital analyst Mark Mahaney maintained a Buy rating on Amazon (AMZNResearch Report) today and set a price target of $3800.00. The company’s shares closed last Friday at $3027.89.

According to TipRanks.com, Mahaney is a top 100 analyst with an average return of 29.8% and a 66.1% success rate. Mahaney covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Zillow Group Class A, and Uber Technologies.

Currently, the analyst consensus on Amazon is a Strong Buy with an average price target of $3807.32, implying a 20.6% upside from current levels. In a report issued on October 15, Truist Financial also maintained a Buy rating on the stock with a $3600.00 price target.

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Amazon’s market cap is currently $1608.4B and has a P/E ratio of 121.60. The company has a Price to Book ratio of 26.86.

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Amazon.com, Inc. engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca. The International segment offers retail sales of consumer products and subscriptions through internationally-focused websites. The Amazon Web Services segment involves in the global sales of compute, storage, database, and AWS service offerings for start-ups, enterprises, government agencies, and academic institutions. The company was founded by Jeffrey P. Bezos in July 1994 and is headquartered in Seattle, WA.