Amazon.com (NASDAQ:AMZN) Price Target Raised to $245.00

Amazon.com (NASDAQ:AMZN) had its target price hoisted by Stifel Nicolaus from $224.00 to $245.00 in a report issued on Friday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the e-commerce giant’s stock.

AMZN has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $215.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. Pivotal Research initiated coverage on Amazon.com in a research report on Friday, October 11th. They set a “buy” rating and a $260.00 price target for the company. Wedbush restated an “outperform” rating and issued a $225.00 price objective on shares of Amazon.com in a research report on Friday, August 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $210.00 target price on shares of Amazon.com in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $246.02.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $197.93 on Friday. The business’s fifty day moving average is $184.82 and its 200 day moving average is $183.77. The firm has a market cap of $2.08 trillion, a price-to-earnings ratio of 42.38, a PEG ratio of 1.42 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com has a 52-week low of $136.47 and a 52-week high of $201.20.

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

Insider Buying and Selling

In other news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the company’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 value of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares in the company, valued at $8,820,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,855 shares of company stock valued at $9,215,048 over the last ninety days. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Large investors have recently modified their holdings of the stock. Costello Asset Management INC increased its stake in Amazon.com by 8.8% during the 3rd quarter. Costello Asset Management INC now owns 38,080 shares of the e-commerce giant’s stock valued at $7,095,000 after purchasing an additional 3,080 shares in the last quarter. Avid Wealth Partners LLC grew its holdings in shares of Amazon.com by 3.9% during the third quarter. Avid Wealth Partners LLC now owns 2,207 shares of the e-commerce giant’s stock valued at $411,000 after buying an additional 83 shares during the last quarter. Ted Buchan & Co increased its position in shares of Amazon.com by 4.0% during the third quarter. Ted Buchan & Co now owns 15,298 shares of the e-commerce giant’s stock valued at $2,851,000 after acquiring an additional 593 shares in the last quarter. Covestor Ltd raised its holdings in Amazon.com by 1.8% in the 3rd quarter. Covestor Ltd now owns 5,339 shares of the e-commerce giant’s stock worth $994,000 after acquiring an additional 95 shares during the last quarter. Finally, 17 Capital Partners LLC lifted its position in Amazon.com by 1.5% in the 3rd quarter. 17 Capital Partners LLC now owns 10,502 shares of the e-commerce giant’s stock valued at $1,957,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.