Amazon.com Inc. (AMZN) Buys Ivona, Gets New Price Target

Page 1 of 2

Amazon.com Inc. (NASDAQ:AMZN) has been producing some headlines over the last month or so, and that seems to generate some excitement and enthusiasm around the company’s quarterly earnings report, which is due Wednesday of this week. One analyst has upgraded its outlook and raise its price target, and Amazon made some more news recently by buying a Europe-based txt-to-speech technology company – which may suggest the genesis of new products that could challenge some tech rivals.

First, a recent article looked a little deeper into the recent acquisition of Poland-based Ivona Software by Amazon.com Inc. (NASDAQ:AMZN). Ivona is a text-to-speech specialist firm that develops the technology for significant numbers of businesses, customers and developers. While there is no official word of how much Amazon spent for the purchase – light may be shed on this Wednesday during the earnings call – this purchase may fan more rumors that have swirled about the online retailer moving into more direct competition with Apple Inc. (NASDAQ:AAPL), Google Inc. (NASDAQ:GOOG) and Microsoft Corporation (NASDAQ:MSFT) by producing its own smartphone. At the very least, though, this might be a step toward improving the audio e-books for Kindle owners. But that would seem to innocuous for the company to put forth so much money to buy a company, when Amazon may be perfectly capable of developing and improving its own capability.

Amazon.com, Inc. (NASDAQ:AMZN)Would Amazon.com Inc. (NASDAQ:AMZN) develop a rival to Siri by Apple Inc. (NASDAQ:AAPL) or S-voice by Samsung? Ivona Software has indicated that it plans to increase its voice library to 50 in 17 languages this year.

While there is no indication that the purchase of Ivona has any impact, Piper Jaffray posted a research note Monday that reiterated the company’s Overweight rating, but raised its price target on the stock from $297 to $329 per share.

As of 1 p.m. ET Monday, Amazon.com Inc. (NASDAQ:AMZN) was down about 2.5 percent on the day to about $276.50 per share. What did Piper Jaffray have to say in its research note that generated such a change in its price target?

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!