In a statement during the past weekend, Amazon.com Inc said that it intended to establish a new warehouse in Germany and add over 2 800 permanent contract job positions in the country by the end of 2019.
Amazon shares closed higher for a second consecutive trading session on NASDAQ on Monday. The stock went up 0.50% ($9.99) to $2,020.99, after touching an intraday high at $2,023.04, or a price level not seen since July 11th ($2,035.80).
Shares of Amazon.com Inc have surged 34.56% so far in 2019 compared with a 20.24% gain for the benchmark index, S&P 500 (SPX).
In 2018, Amazon’s stock went up 28.43%, thus, it again outperformed the S&P 500, which registered a 6.24% loss.
The latest expansion is to boost the total number of Amazons employees in Germany to over 20 000 across 35 facilities by the end of this year.
The company said that its 13th German warehouse would be situated in the western city of Moenchengladbach.
Earlier this month Amazon also revealed plans to create more than 2 000 permanent contract job positions in Britain, its largest European market, and 1 800 permanent contract jobs in France by the end of 2019.
Analyst stock price forecast and recommendation
According to CNN Money, the 43 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $2,250.00, with a high estimate of $2,750.00 and a low estimate of $2,030.00. The median estimate represents an 11.33% upside compared to the closing price of $2,020.99 on July 15th.
The same media also reported that at least 43 out of 47 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 4 – as “Outperform”.
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