Market Update: Amazon.com Inc (NASDAQ:AMZN) – Amazon ranks No. 1 among ‘Cloud City’ companies

[at American City Business Journals] – One of the region’s top employers is also one of the world’s largest cloud computing companies . Amazon’s cloud business, Amazon Web Services, claimed the No. 1 position on this year’s Puget Sound Business Journal list, followed by Oracle and Microsoft Azure. Seattle is poised to become a leader in the cloud industry , which is expected to be worth $127 billion in the coming years, as reported in the Puget Sound Business Journal’s cover story. Read more on this. Amazon.com, Inc. (AMZN) , with a current market cap of $236.79B, started trading this morning at $529.28. Looking at today’s trading action, the company’s one day range from $502.00 to $529.40 with the price of the stock fluctuating between $365.65 to $696.44 over the last 52 weeks. AMZN shares are currently priced at 116.33x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 9.92x forward p/e ratio. According to a consensus of 35 analysts, the earnings estimate of $0.60 per share would be $0.60 worse than the year-ago quarter and a $0.24 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $4.61 would be a $3.36 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $27.92 Billion. If realized, 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 39.46% above where the stock opened this morning. See more in (NASDAQ:AMZN) Similar Articles: Stock Update (NASDAQ:AMZN): How Amazon.com Inc’s Cloud Business Is Doing In 5 Numbers Market Update: Amazon.com Inc (NASDAQ:AMZN) – Rackspace approved to offer ‘fanatical support’ to Amazon cloud service Stock Update: Amazon.com Inc (NASDAQ:AMZN) – Microsoft, Amazon land $108M cloud contract for FAA