Amazon.com (NASDAQ:AMZN) Trading Up 1.3% Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price shot up 1.3% during mid-day trading on Thursday after Arete Research raised their price target on the stock from $264.00 to $283.00. Arete Research currently has a buy rating on the stock. Amazon.com traded as high as $235.72 and last traded at $234.34. 31,606,587 shares were traded during mid-day trading, a decline of 27% from the average session volume of 43,007,961 shares. The stock had previously closed at $231.31.

Several other analysts have also weighed in on AMZN. Evercore ISI reiterated an “outperform” rating on shares of Amazon.com in a research report on Monday, January 5th. Mizuho downgraded Amazon.com from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. President Capital upped their price objective on Amazon.com from $280.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada reissued a “buy” rating and issued a $300.00 target price on shares of Amazon.com in a report on Tuesday, December 2nd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Amazon.com in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, fifty-four have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $295.42.

Read Our Latest Stock Analysis on AMZN

Insiders Place Their Bets

In other news, Director Keith Brian Alexander sold 900 shares of Amazon.com stock in a transaction on Monday, November 17th. The stock was sold at an average price of $233.00, for a total value of $209,700.00. Following the completion of the sale, the director directly owned 7,170 shares of the company’s stock, valued at approximately $1,670,610. This trade represents a 11.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew S. Garman sold 17,768 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $216.90, for a total value of $3,853,879.20. Following the sale, the chief executive officer owned 6,273 shares of the company’s stock, valued at approximately $1,360,613.70. The trade was a 73.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 79,734 shares of company stock valued at $18,534,017 over the last quarter. Company insiders own 9.70% of the company’s stock.

More Amazon.com News

Here are the key news stories impacting Amazon.com this week:

Hedge Funds Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently bought and sold shares of AMZN. Wilson Asset Management International PTY Ltd. bought a new stake in Amazon.com during the second quarter worth about $11,102,000. ARK Investment Management LLC raised its holdings in shares of Amazon.com by 8.3% during the 2nd quarter. ARK Investment Management LLC now owns 1,140,494 shares of the e-commerce giant’s stock valued at $250,213,000 after buying an additional 86,978 shares in the last quarter. Buckhead Capital Management LLC lifted its position in Amazon.com by 16.1% in the 2nd quarter. Buckhead Capital Management LLC now owns 28,407 shares of the e-commerce giant’s stock worth $6,232,000 after buying an additional 3,948 shares during the last quarter. Border to Coast Pensions Partnership Ltd boosted its stake in Amazon.com by 6.0% in the second quarter. Border to Coast Pensions Partnership Ltd now owns 1,136,311 shares of the e-commerce giant’s stock worth $249,295,000 after buying an additional 63,924 shares in the last quarter. Finally, Alpha Wealth Funds LLC boosted its stake in Amazon.com by 172.8% in the second quarter. Alpha Wealth Funds LLC now owns 3,012 shares of the e-commerce giant’s stock worth $667,000 after buying an additional 1,908 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Price Performance

The firm has a market capitalization of $2.51 trillion, a P/E ratio of 33.10, a PEG ratio of 1.45 and a beta of 1.37. The business’s 50-day simple moving average is $231.59 and its 200 day simple moving average is $228.89. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14.

Amazon.com (NASDAQ:AMZNGet Free Report) last announced its quarterly earnings data on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The firm had revenue of $180.17 billion during the quarter, compared to analyst estimates of $177.53 billion. During the same period in the previous year, the business posted $1.43 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. Sell-side analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Amazon.com Company Profile

(Get Free Report)

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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