Piper Sandler Increases Amazon.com (NASDAQ:AMZN) Price Target to $250.00

Amazon.com (NASDAQ:AMZN) had its price objective hoisted by equities research analysts at Piper Sandler from $212.00 to $250.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the e-commerce giant’s stock. Piper Sandler’s price target would indicate a potential upside of 11.10% from the stock’s current price.

AMZN has been the topic of several other reports. Rosenblatt Securities raised their target price on shares of Amazon.com from $287.00 to $288.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Sanford C. Bernstein set a $235.00 target price on shares of Amazon.com and gave the stock an “outperform” rating in a report on Tuesday, July 1st. DA Davidson dropped their target price on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Raymond James Financial restated an “outperform” rating and set a $195.00 target price (down from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Finally, Citizens Jmp started coverage on shares of Amazon.com in a report on Thursday. They set a “strong-buy” rating on the stock. Three investment analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average price target of $249.42.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $225.02 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 36.65, a P/E/G ratio of 1.69 and a beta of 1.33. The firm’s 50 day simple moving average is $209.90 and its 200 day simple moving average is $208.49. Amazon.com has a fifty-two week low of $151.61 and a fifty-two week high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $0.98 EPS. As a group, sell-side analysts forecast that Amazon.com will post 6.31 earnings per share for the current year.

Insider Activity

In other Amazon.com news, CEO Matthew S. Garman sold 20,923 shares of Amazon.com stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,211,799.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian T. Olsavsky sold 17,750 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.57, for a total transaction of $3,577,867.50. Following the completion of the sale, the chief financial officer directly owned 49,000 shares of the company’s stock, valued at approximately $9,876,930. The trade was a 26.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,886,613 shares of company stock valued at $1,531,840,610. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors have recently modified their holdings of AMZN. Castlekeep Investment Advisors LLC acquired a new stake in Amazon.com during the fourth quarter worth about $25,000. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com during the fourth quarter worth about $27,000. Carderock Capital Management Inc. acquired a new stake in Amazon.com during the second quarter worth about $27,000. LSV Asset Management acquired a new stake in Amazon.com during the fourth quarter worth about $35,000. Finally, Cooksen Wealth LLC acquired a new stake in Amazon.com during the first quarter worth about $36,000. 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.