Amazon.com (NASDAQ:AMZN) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Amazon.com (NASDAQ:AMZN) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $293.00 target price on the e-commerce giant’s stock.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC boosted their target price on shares of Amazon.com from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Pivotal Research reiterated a “buy” rating and issued a $320.00 target price (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. KeyCorp set a $335.00 target price on shares of Amazon.com and gave the company an “overweight” rating in a report on Thursday, July 16th. Robert W. Baird boosted their price target on shares of Amazon.com from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Finally, Susquehanna restated a “positive” rating and set a $325.00 price target (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $312.91.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $233.66 on Thursday. The business has a 50-day simple moving average of $248.90 and a 200 day simple moving average of $236.35. Amazon.com has a one year low of $196.00 and a one year high of $278.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The firm has a market capitalization of $2.51 trillion, a price-to-earnings ratio of 27.95, a PEG ratio of 1.82 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm had revenue of $181.52 billion during the quarter, compared to analysts’ expectations of $177.28 billion. During the same quarter last year, the firm posted $1.59 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, research analysts anticipate that Amazon.com will post 7.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jonathan Rubinstein sold 3,706 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $273.02, for a total value of $1,011,812.12. Following the completion of the transaction, the director directly owned 74,948 shares of the company’s stock, valued at approximately $20,462,302.96. This trade represents a 4.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the sale, the senior vice president directly owned 41,190 shares in the company, valued at $11,060,750.70. The trade was a 18.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 140,425 shares of company stock worth $37,715,464 in the last 90 days. 8.90% of the stock is currently owned by company insiders.

Institutional Trading of Amazon.com

A number of institutional investors have recently added to or reduced their stakes in the stock. MilWealth Group LLC raised its holdings in shares of Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after buying an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. bought a new position in Amazon.com during the fourth quarter valued at approximately $45,000. Elkhorn Partners Limited Partnership grew its position in Amazon.com by 900.0% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 180 shares during the last quarter. Fairway Wealth LLC raised its stake in shares of Amazon.com by 95.6% during the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 108 shares in the last quarter. Finally, Prudent Man Investment Management Inc. raised its stake in shares of Amazon.com by 87.7% during the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock worth $53,000 after acquiring an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Key Stories Impacting Amazon.com

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

• Positive Sentiment: Analysts continue to see Amazon as a leading AI beneficiary, with AWS growth expected to stay strong into earnings. Amazon Viewed as Leading AI Beneficiary, AWS Acceleration Supports Buy Rating with Price Target Unchanged at $310
• Positive Sentiment: India loosened e-commerce investment rules for exports, which could help Amazon expand cross-border sales. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Amazon is adding games to Prime Video and integrating Luna, supporting its bundled services strategy. Amazon is bringing games to Prime Video
• Neutral Sentiment: Amazon reorganized its artificial general intelligence team, with layoffs framed as a reset to focus on higher-priority AI initiatives. Amazon cuts some jobs in its artificial general intelligence unit
• Negative Sentiment: A U.S. Senate panel is probing whether Amazon allowed Chinese influence to affect marketplace decisions, raising regulatory risk. Amazon Faces Senate Probe Over Alleged China Influence
• Negative Sentiment: Investors are questioning whether Amazon’s aggressive AI capex plans could pressure margins and earnings near term. Magnificent 7 Loses $767 Billion as AI Skeptics Dump Tech Stocks

About Amazon.com

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.