Company Update (NASDAQ:AMZN): Amazon sues former employee over new job at Target

[Reuters] – Amazon.com Inc has sued a former executive hired by Target Corp as its chief supply chain and logistics officer to prevent him from revealing trade secrets. Amazon said in the lawsuit that the former employee, Arthur Valdez, was in violation of a noncompetition agreement that he signed while working for the company. The lawsuit said his new role in Target would breach the agreement, which required him to not engage in competition with Amazon for 18 months after leaving the company. Read more on this. Amazon.com, Inc. (AMZN) , valued at $263.90B, opened at $545.11. During the trading session, AMZN traded between $545.05 to $562.76 with the price of the stock fluctuating between $365.65 to $696.44 over the last 52 weeks. AMZN shares are currently priced at 120.69x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.78x forward p/e ratio. According to a consensus of 37 analysts, the earnings estimate of $0.58 per share would be $0.58 worse than the year-ago quarter and a $0.30 sequential decrease. Investors should also note that the full-year EPS estimate of $4.59 is a $3.34 improvement 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 $27.96 Billion. If realized, that would be a 23.06% increase over the year-ago quarter. In terms of ratings, Raymond James downgraded AMZN from Strong Buy to Outperform (Mar 22, 2016). Previously, Canaccord Genuity upgraded AMZN from Hold to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $735.29, which is 34.89% above where the stock opened this morning. See more in (NASDAQ:AMZN) Similar Articles: Company Update (NASDAQ:AMZN): Google Express vs. Amazon Prime Now (GOOG, AMZN) Stock Update: Amazon.com Inc (NASDAQ:AMZN) – Amazon to Open New Pickup Location at The University of Texas at Austin Stock Update: Amazon.com Inc (NASDAQ:AMZN) – Crackdown: Amazon sues to stop phony product reviews