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September 01, 2020 10:18am
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Market Update (NASDAQ:AMZN): Google’s Amazon Echo killer is code-named ‘Chirp’

[Business Insider] – Google is reportedly working on a competitor to Amazon’s sleeper hit, the smart speaker Echo, and… Read more on this. Amazon.com, Inc. (AMZN) , valued at $336.52B, opened at $706.00. A quick look at the market, the company’s stock traded between $701.65 and $719.00 with a trailing 52-week range being $418.36 to $719.00. AMZN shares are currently priced at 131.66x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 4.71x earnings multiple. Consensus earnings for the current quarter by the 33 sell-side analysts covering the stock is an estimate of $1.10 per share, which would be $0.91 better than the year-ago quarter and a $0.14 sequential increase. Investors should also note that the full-year EPS estimate of $5.34 is a $4.09 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $29.57 Billion. If reported, that would be a 27.57% 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. The average price target for AMZN shares by the analysts covering the stock is $801.95, which is 13.59% above where the stock opened this morning. See more in (NASDAQ:AMZN) Similar Articles: Market Update: Amazon.com Inc (NASDAQ:AMZN) – Amazon Echo Finally Gives Fitbit A Voice Company Update (NASDAQ:AMZN): Google Express vs. Amazon Prime Now (GOOG, AMZN) Market Update (NASDAQ:AMZN): “Alexa, Play Spotify”: Spotify Now Available on Amazon Echo
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