Market Update (NASDAQ:AMZN): “Alexa, Play Spotify”: Spotify Now Available on Amazon Echo

[Business Wire] – — Amazon today announced that Spotify Premium subscribers in the U.S. can now listen to their music on Amazon Echo—just ask Alexa to play any playlist, artist, genre and more from Spotify’s catalog. Read more on this. Amazon.com, Inc. (AMZN) , with a current value of $247.07B, started trading this morning at $525.00. Looking at the stock, its one day range is $521.56 to $525.00 and has traded between $365.65 and $696.44 over the past 12 months. AMZN shares are currently priced at 110.87x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 9.92x earnings multiple for the same period. Consensus earnings for the current quarter by the 36 sell-side analysts covering the stock is an estimate of $0.62 per share, which would be $0.62 worse than the year-ago quarter and a $0.22 sequential decrease. Investors should also note that the full-year EPS estimate of $4.79 is a $3.54 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $27.92 Billion. If reported, that would be a 22.89% increase over the year-ago quarter. In terms of ratings, Susquehanna Initiated AMZN at Positive (Jan 15, 2016). Previously, Monness Crespi & Hardt downgraded AMZN from Buy to Neutral. When considering if perhaps the stock is under or overvalued, the average price target is $738.13, which is 40.60% above where the stock opened this morning. See more in (NASDAQ:AMZN) Similar Articles: Market Update: Amazon.com Inc (NASDAQ:AMZN) – Tech Earnings: Amazon.com Inc and Alphabet Inc Go Bonkers Market Update: Amazon.com Inc (NASDAQ:AMZN) – Amazon, Alphabet, Priceline Are Bolting Past Market Company Update: Amazon.com Inc (NASDAQ:AMZN) – Amazon just soared past Apple in the streaming TV market