Truist Financial Increases Amazon.com (NASDAQ:AMZN) Price Target to $216.00

Amazon.com (NASDAQ:AMZN) had its price target lifted by stock analysts at Truist Financial from $195.00 to $216.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. Truist Financial’s price objective suggests a potential upside of 20.52% from the company’s current price.

A number of other research firms have also recently weighed in on AMZN. Susquehanna upped their price target on Amazon.com from $185.00 to $220.00 and gave the stock a “positive” rating in a report on Friday, February 2nd. Sanford C. Bernstein upped their price target on Amazon.com from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Stifel Nicolaus upped their price target on Amazon.com from $200.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird boosted their price objective on Amazon.com from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Roth Mkm reiterated a “buy” rating and set a $205.00 price objective on shares of Amazon.com in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com presently has an average rating of “Buy” and an average target price of $202.80.

Amazon.com Stock Performance

Shares of AMZN stock opened at $179.22 on Wednesday. The stock has a market cap of $1.86 trillion, a PE ratio of 61.80, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16. Amazon.com has a 52-week low of $101.15 and a 52-week high of $189.77. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $177.28 and a 200-day simple moving average of $156.52.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.19. The company had revenue of $169.96 billion during the quarter, compared to analysts’ expectations of $165.96 billion. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. Amazon.com’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. On average, equities analysts expect that Amazon.com will post 4.08 EPS for the current year.

Insider Activity

In other news, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the sale, the chief executive officer now directly owns 116,560 shares in the company, valued at $18,150,723.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Andrew R. Jassy sold 50,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $168.65, for a total value of $8,432,500.00. Following the sale, the chief executive officer now directly owns 2,014,055 shares in the company, valued at $339,670,375.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $155.72, for a total value of $77,860.00. Following the completion of the sale, the chief executive officer now owns 116,560 shares in the company, valued at $18,150,723.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,213,510 shares of company stock worth $5,505,798,456. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Amazon.com

Hedge funds have recently modified their holdings of the stock. Mayflower Financial Advisors LLC raised its stake in Amazon.com by 0.3% in the third quarter. Mayflower Financial Advisors LLC now owns 194,762 shares of the e-commerce giant’s stock valued at $25,000 after buying an additional 572 shares in the last quarter. Cooksen Wealth LLC acquired a new stake in Amazon.com in the fourth quarter valued at $30,000. PayPay Securities Corp raised its stake in Amazon.com by 54.3% in the third quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock valued at $34,000 after buying an additional 94 shares in the last quarter. Laurel Wealth Planning LLC raised its stake in Amazon.com by 1,900.0% in the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock valued at $34,000 after buying an additional 304 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in Amazon.com in the fourth quarter valued at $37,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.