Amazon.com (NASDAQ:AMZN) Price Target Raised to $270.00

Amazon.com (NASDAQ:AMZN) had its target price raised by BMO Capital Markets from $233.00 to $270.00 in a research note released on Tuesday, MarketBeat.com reports. They currently have an outperform rating on the e-commerce giant’s stock.

A number of other research firms have also weighed in on AMZN. Barclays lowered their target price on Amazon.com from $265.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. BNP Paribas upgraded Amazon.com from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Bank of America upped their target price on Amazon.com from $230.00 to $248.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. Cantor Fitzgerald upped their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, Rosenblatt Securities upped their price target on Amazon.com from $287.00 to $288.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.33.

Amazon.com Stock Up 1.7%

Shares of NASDAQ AMZN opened at $232.23 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The firm has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 37.82, a PEG ratio of 1.70 and a beta of 1.33. The stock has a 50 day moving average price of $215.14 and a 200 day moving average price of $208.84. Amazon.com has a 52-week low of $151.61 and a 52-week high of $242.52.

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

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total transaction of $550,150.00. Following the sale, the chief executive officer directly owned 514,550 shares in the company, valued at $113,231,873. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 2,339,470 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $229.39, for a total value of $536,651,023.30. Following the sale, the insider owned 887,933,999 shares in the company, valued at $203,683,180,030.61. This trade represents a 0.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,947,939 shares of company stock worth $4,720,588,785 over the last 90 days. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors have recently modified their holdings of AMZN. Prudent Man Investment Management Inc. purchased a new position in Amazon.com in the 4th quarter valued at about $27,000. Carderock Capital Management Inc. purchased a new position in Amazon.com in the 2nd quarter valued at about $27,000. LSV Asset Management purchased a new position in Amazon.com in the 4th quarter valued at about $35,000. Perritt Capital Management Inc lifted its stake in Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 80 shares in the last quarter. Finally, Cooksen Wealth LLC purchased a new position in Amazon.com in the 1st quarter valued at about $36,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.