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

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reissued by Canaccord Genuity Group in a research report issued on Friday, Marketbeat Ratings reports. They currently have a $280.00 price target on the e-commerce giant’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 31.55% from the stock’s current price.

AMZN has been the topic of several other reports. Jefferies Financial Group raised their price target on Amazon.com from $255.00 to $265.00 in a research report on Wednesday, July 16th. Truist Financial lifted their price objective on Amazon.com from $226.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Citigroup lifted their price objective on Amazon.com from $225.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Telsey Advisory Group lifted their price objective on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, DA Davidson dropped their price target on Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $262.45.

Amazon.com Stock Down 0.9%

Shares of NASDAQ AMZN traded down $1.91 during midday trading on Friday, hitting $212.85. 50,564,581 shares of the stock traded hands, compared to its average volume of 44,880,152. The company has a market cap of $2.26 trillion, a PE ratio of 32.42, a P/E/G ratio of 1.57 and a beta of 1.31. Amazon.com has a one year low of $151.61 and a one year high of $242.52. The business has a 50 day moving average price of $218.20 and a two-hundred day moving average price of $209.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results 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 return on equity of 23.84% and a net margin of 10.54%. The firm had revenue of $167.70 billion for the quarter, compared to analysts’ expectations of $161.80 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities analysts predict that Amazon.com will post 6.31 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares of the company’s stock, valued at approximately $203,649,402,587.43. This represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 25,099,537 shares of company stock worth $5,674,394,548. 9.70% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

Institutional investors have recently made changes to their positions in the stock. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com during the fourth quarter valued at approximately $27,000. Carderock Capital Management Inc. purchased a new stake in shares of Amazon.com in the 2nd quarter valued at approximately $27,000. LSV Asset Management purchased a new stake in shares of Amazon.com in the 4th quarter valued at approximately $35,000. Perritt Capital Management Inc lifted its position in shares of 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 acquiring an additional 80 shares in the last quarter. Finally, Cooksen Wealth LLC acquired a new position in Amazon.com in the 1st quarter valued at approximately $36,000. 72.20% of the stock is owned by institutional investors and hedge funds.

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.