Canaccord Genuity Group Reaffirms “Buy” Rating for Amazon.com (NASDAQ:AMZN)

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity Group in a research report issued on Friday, MarketBeat reports. They currently have a $280.00 price target on the e-commerce giant’s stock. Canaccord Genuity Group’s price target points to a potential upside of 30.38% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Monness Crespi & Hardt increased their price target on shares of Amazon.com from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup increased their target price on Amazon.com from $225.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Mizuho lowered their price target on Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Robert W. Baird upped their price target on Amazon.com from $220.00 to $244.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Finally, BMO Capital Markets lifted their price objective on Amazon.com from $233.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $262.45.

Amazon.com Stock Performance

NASDAQ AMZN opened at $214.75 on Friday. The business’s 50-day moving average price is $218.20 and its 200 day moving average price is $209.03. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. Amazon.com has a twelve month low of $151.61 and a twelve month high of $242.52. The company has a market capitalization of $2.28 trillion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31.

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

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the transaction, the insider directly owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 25,099,537 shares of company stock valued at $5,674,394,548 in the last three months. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMZN. Barlow Wealth Partners Inc. grew its stake in shares of Amazon.com by 0.4% in the 2nd quarter. Barlow Wealth Partners Inc. now owns 12,565 shares of the e-commerce giant’s stock worth $2,763,000 after purchasing an additional 44 shares during the last quarter. Northern Capital Management Inc. grew its position in Amazon.com by 0.6% in the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock worth $1,613,000 after buying an additional 45 shares during the last quarter. Ridgecrest Wealth Partners LLC increased its holdings in shares of Amazon.com by 0.5% in the second quarter. Ridgecrest Wealth Partners LLC now owns 8,399 shares of the e-commerce giant’s stock valued at $1,843,000 after buying an additional 45 shares in the last quarter. Probity Advisors Inc. increased its holdings in shares of Amazon.com by 0.4% in the second quarter. Probity Advisors Inc. now owns 12,157 shares of the e-commerce giant’s stock valued at $2,667,000 after buying an additional 45 shares in the last quarter. Finally, Balanced Wealth Group LLC lifted its position in shares of Amazon.com by 1.6% during the 4th quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant’s stock valued at $705,000 after acquiring an additional 48 shares during the last quarter. 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.