Notable Upgrades: Amazon.com Inc. (AMZN), Microsoft (MSFT), GoPro (GPRO), Ambarella, Inc. (AMBA)

Amazon.com Inc. (AMZN) was reiterated a ‘Overweight’ by Piper Jaffray analysts on Wednesday. The broker also raised its price target on the stock to $520 from $475.

On valuation measures, Amazon.com Inc. shares have a PEG and forward P/E ratio of 31.95 and 170.07, respectively. Price/Sales for the same period is 2.18 while EPS is ($0.88). Currently there are 22 analysts that rate AMZN a ‘Buy‘, 16 rate it a ‘Hold‘. No analyst rates it a ‘Sell‘. AMZN has a median Wall Street price target of $470.00 with a high target of $600.00.

Microsoft Corporation (MSFT) was reiterated as ‘Overweight’ with a $53 from $48 price target on Wednesday by Barclays.

MSFT is up $0.33 at $47.25 on low volume. Midway through trading Wednesday, 17.22 million shares of Microsoft Corp. have exchanged hands as compared to its average daily volume of 38.14 million shares. The stock has ranged in a price between $46.96-$47.74 after having opened the day at $47.36 as compared to the previous trading day’s close of $46.92.

In the past 52 weeks, shares of Redmond, Washington-based software giant have traded between a low of $39.86 and a high of $50.05. Shares are up 18.07% year-over-year and 2.39% year-to-date.

GoPro, Inc. (GPRO) rating of ‘Overweight’ was reiterated today at JP Morgan (JPM) with a price target increase of $75 from $70 (versus a $58.40 previous close).

GPRO shares recently gained $1.07 to $59.47. The stock has lost roughly 7.62% year-to-date. In the past 52 weeks, shares of San Mateo, California-based company have traded between a low of $28.65 and a high of $98.47.

GoPro Inc. closed Tuesday at $58.40. The name has a current market cap of $8.00 billion.

Analysts at Needham are out with a report this morning upgrading shares of Ambarella, Inc. (AMBA) with a ‘Hold‘ from ‘Underperform‘ rating.

On valuation measures, Ambarella Inc. shares are currently priced at 60.82x this year’s forecasted earnings, which makes them expensive compared to the industry’s 17.77x earnings multiple. Ticker has a forward P/E of 32.98 and t-12 price-to-sales ratio of 13.03. EPS for the same period is $1.57.

Over the past year, shares of Santa Clara, California-based firm have traded between a low of $24.17 and a high of $99.06 and are now at $95.24. Shares are up 270.17% year-over-year and 81.80% year-to-date.

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