Business Maverick: Amazon Analysts Can’t Keep Up as Shares Eclipse $3,000

hares rose as much as 4.8% to touch $3,030.30, and were on track for their fourth straight daily gain. The stock is up more than 12% over the four-day stretch and has climbed about 80% off a March low, resulting in a market capitalization of $1.5 trillion.

Amazon has seen accelerating demand for its e-commerce and cloud-computing services during the pandemic, which has closed brick-and-mortar rivals and led more people work remotely. Many analysts on Wall Street expect these trends will outlast the pandemic, solidifying the company’s market share and fueling the recent advance.

Despite the growing optimism, Amazon’s rally has left most Wall Street analysts in the dust. Fewer than a quarter of the 50 or so analysts tracked by Bloomberg have a target above $3,000, and the average target is about $2,810. While that is up from the $2,179 average at the end of 2019, it still implies downside of about 7% from current levels., the degree to which the share price exceeds the average target is at aAmazon remains a consensus favorite on Wall Street.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

BUSINESS MAVERICK: Business interruption insurance is becoming a huge issue – but there may be a compromiseSouth Africa’s insurance industry is pitted against the tourism sector in what could be a battle for the survival of each. Legal firm ENS believes it has a solution.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Business Maverick: Steinhoff Likely Near to Settling $11 Billion in Legal ClaimsSteinhoff International Holdings NV is close to reaching a potential deal on 10 billion euros ($11 billion) of legal claims lodged against the global retailer following an accounting scandal that almost wiped out the company, according to two people with knowledge of the matter.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Business Maverick: Africa’s Biggest Investment Takes Shape Under Islamist ThreatDozens of soldiers clutching AK-47s and grenade launchers watch over roaring bulldozers on the white sand beach that meets a tropical turquoise sea. They’re guarding Africa’s biggest investment: a $23 billion project to export Mozambique’s natural gas from an area increasingly besieged by an Islamist insurgency.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

BUSINESS MAVERICK: Old Mutual makes acting CEO Williamson permanent, but Moyo’s possible fightback hangs over the appointmentAfter two court victories against Peter Moyo that blocked him from getting back his old job and office in Old Mutual’s swanky Johannesburg headquarters, the company has appointed Iain Williamson as the permanent CEO. But Moyo has said the battle to be reinstated is not over.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »