AMZN Stock Hits 52-Week High on New Price Target

Amazon

AMZN stock hit a new 52-week high on Wednesday as MKM Partners raised their price target to $850 from $800 implying 17.4% expected return. The firm attributed the hike to the company’s impressive first-quarter 2016 results across the board during a rather dismal earnings season for U.S. retailers in general. They also increased their near-term and long-term growth assumptions across each Amazon segment, saying they consider the Seattle, WA-based e-commerce giant to be the best public market growth story available to investors today.

Amazon.com, Inc. (AMZN) closed at $722.79 at the end of Tuesday’s trading session, printing a year-to-date return of around 7%. The stock hit a new 52-week high today, printing the tape at $726.40. That’s a 73.31% rise, or $307.26 per share from the 52-week low of $419.14 set in June 9, 2015.

Valuation Measures

Amazon.com Inc. shares are priced at 298.63x this year’s forecasted earnings, compared to the industry’s 6.48x earnings multiple. The company’s current year and next year EPS growth estimates stand at 327.20% and 83.70%, compared to the industry growth rates of 7.20% and 18.80%, respectively. AMZN has a t-12 price-to-sales ratio of 3.01. EPS for the same period registers at $2.43.

Amazon shares have advanced 9.58% in the last 4 weeks and 24.83% in the past three months. Over the past 5 trading sessions the stock has gained 3.74%.

The $341.83 billion market cap company has a median Street price target of $800 with a high target of $1,000.

Amazon.com Inc. is up 67.73% year-over-year, compared with a 0.81% loss in the S&P 500.

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