Downgrade Alert for Amazon.com (AMZN)
Amazon.com (NASDAQ:AMZN) was downgraded from Strong Buy to Outperform at Raymond James today. The stock closed yesterday at $560.48 on volume of 4.0 million shares, below average daily volume of 5.2 million.
There is potential upside of 30.8% for shares of Amazon.com based on a current price of $560.48 and an average consensus analyst price target of $733.03. The stock should find initial support at its 50-day moving average (MA) of $559.75 and further support at its 200-day MA of $555.86.
Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company's products include books, music, videotapes, computers, electronics, home and garden, and numerous other products. Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers.
Over the past year, Amazon.com has traded in a range of $365.65 to $696.44 and closed yesterday at $560.48, 53% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.6%.
SmarTrend recommended that subscribers consider buying shares of Amazon.com on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $528.44. Since that recommendation, shares of Amazon.com have risen 4.8%. We continue to monitor AMZN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Amazon.com