Telsey Advisory Group Raises Amazon.com (NASDAQ:AMZN) Price Target to $215.00

Amazon.com (NASDAQ:AMZN) had its target price hoisted by Telsey Advisory Group from $200.00 to $215.00 in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. Telsey Advisory Group currently has an outperform rating on the e-commerce giant’s stock. Telsey Advisory Group also issued estimates for Amazon.com’s Q2 2024 earnings at $1.09 EPS, Q3 2024 earnings at $1.15 EPS, Q4 2024 earnings at $1.34 EPS, FY2024 earnings at $4.71 EPS and FY2025 earnings at $5.73 EPS.

AMZN has been the topic of a number of other reports. Sanford C. Bernstein lifted their target price on Amazon.com from $175.00 to $200.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Mizuho lifted their price objective on Amazon.com from $220.00 to $230.00 and gave the stock a buy rating in a report on Friday, February 2nd. The Goldman Sachs Group upped their target price on Amazon.com from $200.00 to $220.00 and gave the company a buy rating in a research note on Friday, February 2nd. Monness Crespi & Hardt lifted their price target on shares of Amazon.com from $170.00 to $215.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Finally, Morgan Stanley boosted their price target on shares of Amazon.com from $185.00 to $200.00 and gave the company an overweight rating in a report on Friday, February 2nd. One investment 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $211.07.

Amazon.com Stock Up 0.8 %

AMZN opened at $186.21 on Wednesday. Amazon.com has a 1-year low of $103.31 and a 1-year high of $189.77. The business has a 50 day moving average of $178.79 and a 200-day moving average of $159.95. The stock has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 52.16, a P/E/G ratio of 1.55 and a beta of 1.15. The company has a current ratio of 1.07, a quick ratio of 0.84 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. The firm had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. As a group, sell-side analysts anticipate that Amazon.com will post 4.12 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total transaction of $523,807.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $20,239,226.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jeffrey P. Bezos sold 5,998,849 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the sale, the insider now directly owns 982,252,968 shares in the company, valued at approximately $167,140,165,034.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total transaction of $523,807.00. Following the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $20,239,226.60. The disclosure for this sale can be found here. Insiders sold a total of 32,217,010 shares of company stock valued at $5,506,442,301 over the last ninety days. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently made changes to their positions in AMZN. Ridgecrest Wealth Partners LLC grew its stake in Amazon.com by 0.7% in the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after acquiring an additional 56 shares during the period. Stordahl Capital Management Inc. lifted its holdings in shares of Amazon.com by 2.1% during the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after purchasing an additional 56 shares in the last quarter. Lutz Financial Services LLC grew its position in shares of Amazon.com by 1.9% in the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after purchasing an additional 57 shares during the period. Echo45 Advisors LLC increased its stake in Amazon.com by 0.9% during the 1st quarter. Echo45 Advisors LLC now owns 6,619 shares of the e-commerce giant’s stock worth $1,194,000 after purchasing an additional 59 shares in the last quarter. Finally, Boyd Wealth Management LLC raised its holdings in Amazon.com by 1.7% during the 1st quarter. Boyd Wealth Management LLC now owns 3,655 shares of the e-commerce giant’s stock worth $659,000 after buying an additional 60 shares during the period. 72.20% of the stock is owned by institutional investors.

Amazon.com Company Profile

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.