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

Amazon.com (NASDAQ:AMZN) had its price target hoisted by The Goldman Sachs Group from $230.00 to $240.00 in a research report report published on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the e-commerce giant’s stock.

A number of other equities analysts have also commented on the company. DA Davidson reiterated a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research note on Thursday, October 10th. Piper Sandler upped their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday. Maxim Group increased their price objective on Amazon.com from $238.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $210.00 target price on shares of Amazon.com in a research report on Thursday, October 3rd. Finally, Loop Capital increased their price target on shares of Amazon.com from $750.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.02.

Amazon.com Stock Up 6.2 %

Shares of AMZN stock opened at $197.93 on Friday. The stock’s 50 day simple moving average is $184.82 and its 200 day simple moving average is $183.77. Amazon.com has a twelve month low of $136.47 and a twelve month high of $201.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 42.38, a PEG ratio of 1.42 and a beta of 1.14.

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

Insider Buying and Selling

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,855 shares of company stock worth $9,215,048 over the last three months. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PayPay Securities Corp grew its holdings in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP bought a new position in Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC acquired a new position in Amazon.com in the third quarter valued at about $45,000. Christopher J. Hasenberg Inc increased its holdings in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new stake in shares of Amazon.com during the third quarter worth about $56,000. Institutional investors 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.