Amazon.com (NASDAQ:AMZN) Given New $286.00 Price Target at Bank of America

Amazon.com (NASDAQ:AMZN) had its price objective reduced by Bank of America from $303.00 to $286.00 in a research report released on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the e-commerce giant’s stock.

Several other analysts have also issued reports on the stock. Piper Sandler restated an “overweight” rating on shares of Amazon.com in a research report on Wednesday, December 3rd. Canaccord Genuity Group set a $300.00 target price on Amazon.com and gave the stock a “buy” rating in a research report on Friday, October 31st. Raymond James Financial lowered their price target on Amazon.com from $275.00 to $260.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. Evercore ISI reiterated an “outperform” rating on shares of Amazon.com in a research report on Monday, January 5th. Finally, Barclays restated an “overweight” rating and set a $300.00 price objective (up from $275.00) on shares of Amazon.com in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifty-four have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $295.65.

Read Our Latest Stock Report on Amazon.com

Amazon.com Stock Performance

AMZN opened at $244.68 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $232.23 and its two-hundred day moving average price is $229.37. The firm has a market capitalization of $2.62 trillion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 1.49 and a beta of 1.37. Amazon.com has a 12-month low of $161.38 and a 12-month high of $258.60.

Amazon.com (NASDAQ:AMZNGet Free Report) last posted its quarterly earnings data on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.38. The company had revenue of $180.17 billion during the quarter, compared to analysts’ expectations of $177.53 billion. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.Amazon.com’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. On average, equities analysts forecast that Amazon.com will post 6.31 earnings per share for the current year.

Insider Activity

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $226.61, for a total transaction of $280,316.57. Following the completion of the transaction, the director directly owned 26,148 shares of the company’s stock, valued at approximately $5,925,398.28. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 19,872 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $216.94, for a total transaction of $4,311,031.68. Following the completion of the sale, the chief executive officer owned 2,208,310 shares in the company, valued at $479,070,771.40. This represents a 0.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 79,734 shares of company stock valued at $18,534,017. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Fairway Wealth LLC increased its position in Amazon.com by 113.2% in the 3rd quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant’s stock valued at $25,000 after acquiring an additional 60 shares in the last quarter. Sellwood Investment Partners LLC bought a new stake in shares of Amazon.com during the third quarter valued at approximately $27,000. Maryland Capital Advisors Inc. increased its holdings in shares of Amazon.com by 81.9% in the second quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock valued at $46,000 after purchasing an additional 95 shares in the last quarter. Bridge Generations Wealth Management LLC raised its position in Amazon.com by 2,330.0% in the 3rd quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant’s stock worth $53,000 after purchasing an additional 233 shares during the last quarter. Finally, Cooksen Wealth LLC lifted its holdings in Amazon.com by 23.5% during the 2nd quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant’s stock worth $54,000 after buying an additional 47 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Key Amazon.com News

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

Amazon.com Company Profile

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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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