Shares of Amazon.com, Inc. (NASDAQ:AMZN) are back down to the $315 area, near the lows of Friday’s session before the stock then took a bounce. We might see the same effect today if the probe of those lows is successful. That is, if $315 isn’t broken substantially to the downside. If it is, a test to $300 becomes a prospect. On a bounce, resistance is at $322.79.
Analysts have a consensus price target of $415.41 on Amazon.com (NASDAQ:AMZN) which indicates a 28.61% upside. The consensus rating of the stock is a BUY with a score of 2.73. There are currently 6 Hold Ratings on the stock, 2 sell ratings 24 Buy ratings and 1 Strong Buy rating.
The most recent analyst action consisted of S&P Equity reiterating a sell rating on April 3rd, 2014.
Cover, an Android lockscreen app, announced in a blog post that it has been acquired by Twitter, Inc. (NYSE:TWTR). Cover says “Fr now, Cover will remain available in the Play Store while we focus our attention on our work at Twitter.”
Hewlett-Packard Co. (NYSE:HPQ) is a modest gainer Monday, likely finding some traction from largely favorable coverage in a feature in this week’s Barron’s.
The article notes H-P’s costs are down, debt has been slashed, and free cash flow is plentiful. And it cautions: personal computers and printers are in long-term decline; competition in servers is fierce; and overall revenue is slipping, albeit at a slowing pace.
Still, the article suggests HPQ could even return to revenue growth in coming quarters. Shares, recently $32.64, are positioned for 20% more upside over the next year. The 1.8% dividend yield is also shareholder friendly.
In Monday’s trading, the stock has ranged in a narrow $32.67 to $33.10, nearing a test of the upper end of the 52-week range of $19.07 to $33.66.
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