Stock Update (NASDAQ:AMZN): 3 Reasons Amazon Stock Will Soar In 2016

[at Forbes] – Amazon (in which I have no financial interest) is on a roll — its stock price more than doubled in 2015 yielding a $325 billion market capitalization — and as long as Jeff Bezos remains CEO, its stock price will keep going up. Before getting into why that is, I believe that Bezos is Read more on this. Amazon.com, Inc. (AMZN) , with a current value of $321.81B, finished at $689.07. Shares have traded today between $683.14 and $687.73 per share with a one year range of $285.25 to $696.44. AMZN shares are currently priced at 367.18x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.91x earnings multiple for the same period. In a review of the consensus earnings estimate this quarter, 37 sell-side analysts are looking at $1.65 per share, which would be $1.20 better than the year-ago quarter and a $0.04 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $1.89, which would be a $2.41 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $36.02 Billion. If realized, that would be a 22.81% increase over the year-ago quarter. In terms of ratings, Raymond James upgraded AMZN from Outperform to Strong Buy (Aug 27, 2015). Previously, Stifel upgraded AMZN from Hold to Buy. Investors should keep in mind is that the average price target is $741.10, which is 7.55% above where the stock opened this morning. See more in (NASDAQ:AMZN) Similar Articles: Stock Update: Amazon.com Inc (NASDAQ:AMZN) – Crackdown: Amazon sues to stop phony product reviews Company Update: Amazon.com Inc (NASDAQ:AMZN) – Amazon just soared past Apple in the streaming TV market Stock Update: Amazon.com Inc (NASDAQ:AMZN) – Amazon Web Services Announces Four More ISV Leaders Are “All-In” with AWS