Amazon.com (NASDAQ:AMZN) Price Target Raised to $240.00

Amazon.com (NASDAQ:AMZN) had its target price raised by TD Cowen from $230.00 to $240.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

AMZN has been the topic of a number of other research reports. Truist Financial boosted their price objective on shares of Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Evercore ISI restated an “outperform” rating and set a $240.00 price objective on shares of Amazon.com in a research note on Friday, October 11th. The Goldman Sachs Group lowered their target price on Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a research report on Monday, October 7th. Finally, Piper Sandler decreased their price target on Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $246.02.

Amazon.com Stock Up 6.2 %

Shares of Amazon.com stock opened at $197.93 on Friday. The business has a fifty day simple moving average of $184.82 and a 200 day simple moving average of $183.77. The stock has a market cap of $2.08 trillion, a PE ratio of 42.38, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Amazon.com has a 12 month low of $136.47 and a 12 month high of $201.20.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 23.46%. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period last year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts predict that Amazon.com will post 4.84 EPS for the current year.

Insider Activity at Amazon.com

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares in the company, valued at $8,820,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP David Zapolsky sold 9,490 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.88, for a total value of $1,716,551.20. Following the completion of the sale, the senior vice president now directly owns 64,610 shares in the company, valued at $11,686,656.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,855 shares of company stock valued at $9,215,048 in the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently made changes to their positions in AMZN. International Assets Investment Management LLC boosted its position in shares of Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after buying an additional 14,724,687 shares during the period. Swedbank AB purchased a new stake in shares of Amazon.com in the 1st quarter valued at approximately $2,239,757,000. Capital World Investors increased its holdings in shares of Amazon.com by 64.6% during the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after buying an additional 11,524,463 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after buying an additional 6,810,145 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.