Morgan Stanley Increases Amazon.com (NASDAQ:AMZN) Price Target to $3,750.00

Amazon.com (NASDAQ:AMZN) had its price objective increased by Morgan Stanley from $3,450.00 to $3,750.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage presently has an “overweight” rating on the e-commerce giant’s stock. Morgan Stanley’s price objective suggests a potential upside of 18.50% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. BidaskClub cut shares of Amazon.com from a “buy” rating to a “hold” rating in a research note on Friday, July 24th. William Blair reaffirmed a “buy” rating on shares of Amazon.com in a research note on Monday, June 22nd. Barclays lifted their price objective on shares of Amazon.com from $3,430.00 to $3,530.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank raised their target price on shares of Amazon.com from $2,750.00 to $3,333.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Finally, Benchmark raised their target price on shares of Amazon.com from $2,450.00 to $2,650.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the company. Amazon.com presently has a consensus rating of “Buy” and a consensus price target of $3,240.51.

Amazon.com stock opened at $3,164.68 on Friday. The stock has a market cap of $1,578.47 billion, a price-to-earnings ratio of 121.67, a PEG ratio of 5.83 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $2,884.55 and its two-hundred day moving average price is $2,314.52. Amazon.com has a 52 week low of $1,626.03 and a 52 week high of $3,344.29.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $8.56. The firm had revenue of $88.91 billion for the quarter, compared to analysts’ expectations of $81.56 billion. Amazon.com had a net margin of 4.10% and a return on equity of 21.51%. Research analysts expect that Amazon.com will post 20.12 earnings per share for the current fiscal year.

In other news, Director Patricia Q. Stonesifer sold 2,200 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $2,329.44, for a total value of $5,124,768.00. Following the transaction, the director now owns 4,645 shares of the company’s stock, valued at $10,820,248.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Indra K. Nooyi purchased 27 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was purchased at an average cost of $2,806.80 per share, for a total transaction of $75,783.60. Following the transaction, the director now owns 707 shares of the company’s stock, valued at $1,984,407.60. The disclosure for this purchase can be found here. Company insiders own 16.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. National Asset Management Inc. raised its position in shares of Amazon.com by 2.8% in the second quarter. National Asset Management Inc. now owns 11,339 shares of the e-commerce giant’s stock valued at $31,284,000 after purchasing an additional 311 shares during the period. Comerica Bank raised its position in shares of Amazon.com by 6.4% in the second quarter. Comerica Bank now owns 88,908 shares of the e-commerce giant’s stock valued at $275,606,000 after purchasing an additional 5,326 shares during the period. Valmark Advisers Inc. raised its position in shares of Amazon.com by 25.5% in the second quarter. Valmark Advisers Inc. now owns 1,067 shares of the e-commerce giant’s stock valued at $2,944,000 after purchasing an additional 217 shares during the period. Dixon Hubard Feinour & Brown Inc. VA raised its position in shares of Amazon.com by 4.0% in the second quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 3,070 shares of the e-commerce giant’s stock valued at $9,211,000 after purchasing an additional 117 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of Amazon.com by 10.7% in the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 5,201 shares of the e-commerce giant’s stock valued at $14,349,000 after purchasing an additional 503 shares during the period. 64.54% of the stock is currently owned by institutional investors.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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