Amazon.com (NASDAQ:AMZN) Price Target Raised to $255.00

Amazon.com (NASDAQ:AMZN) had its target price upped by Piper Sandler from $250.00 to $255.00 in a research report sent to investors on Friday, MarketBeat reports. The brokerage currently has an overweight rating on the e-commerce giant’s stock.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Amazon.com from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. The Goldman Sachs Group dropped their target price on Amazon.com from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Mizuho lowered their price objective on Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Oppenheimer boosted their price objective on Amazon.com from $215.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 20th. Finally, Morgan Stanley restated an “overweight” rating on shares of Amazon.com in a research note on Monday, July 28th. One equities research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $262.45.

Amazon.com Trading Down 8.3%

Shares of Amazon.com stock opened at $214.75 on Friday. Amazon.com has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The firm has a market cap of $2.28 trillion, a PE ratio of 32.74, a P/E/G ratio of 1.57 and a beta of 1.31. The business’s fifty day moving average is $218.20 and its two-hundred day moving average is $209.03. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The company had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. During the same quarter in the prior year, the company posted $1.26 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts anticipate that Amazon.com will post 6.31 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com stock in a transaction on Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares of the company’s stock, valued at $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 25,099,537 shares of company stock valued at $5,674,394,548 over the last quarter. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amazon.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust grew its stake in Amazon.com by 5.4% in the 2nd quarter. Bank of Jackson Hole Trust now owns 17,487 shares of the e-commerce giant’s stock valued at $3,836,000 after buying an additional 902 shares during the last quarter. Motco lifted its stake in Amazon.com by 2.7% in the 2nd quarter. Motco now owns 67,759 shares of the e-commerce giant’s stock valued at $15,863,000 after purchasing an additional 1,804 shares during the last quarter. Cedar Point Capital Partners LLC lifted its stake in Amazon.com by 7.0% in the 2nd quarter. Cedar Point Capital Partners LLC now owns 1,628 shares of the e-commerce giant’s stock valued at $357,000 after purchasing an additional 106 shares during the last quarter. Fire Capital Management LLC increased its position in Amazon.com by 2.5% in the 2nd quarter. Fire Capital Management LLC now owns 16,751 shares of the e-commerce giant’s stock valued at $3,675,000 after acquiring an additional 402 shares during the period. Finally, Biltmore Family Office LLC increased its position in Amazon.com by 0.5% in the 2nd quarter. Biltmore Family Office LLC now owns 20,868 shares of the e-commerce giant’s stock valued at $4,578,000 after acquiring an additional 113 shares during the period. 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.