TD Cowen Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its target price hoisted by stock analysts at TD Cowen from $240.00 to $265.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. TD Cowen’s price objective indicates a potential upside of 15.14% from the company’s current price.

A number of other research analysts have also commented on AMZN. Sanford C. Bernstein upped their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Susquehanna upped their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, November 1st. JMP Securities upped their target price on shares of Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Monness Crespi & Hardt upped their target price on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Maxim Group upped their target price on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus target price of $237.98.

Amazon.com Stock Down 0.0 %

Shares of AMZN stock traded down $0.10 on Thursday, hitting $230.16. The company’s stock had a trading volume of 13,914,633 shares, compared to its average volume of 41,254,332. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com has a fifty-two week low of $144.05 and a fifty-two week high of $231.20. The firm’s fifty day moving average price is $199.89 and its 200-day moving average price is $189.07. The stock has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 49.27, a P/E/G ratio of 1.52 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. Research analysts anticipate that Amazon.com will post 5.29 EPS for the current year.

Insider Activity at Amazon.com

In other news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the sale, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,034,534 shares of company stock valued at $1,253,883,872. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of hedge funds have recently modified their holdings of AMZN. State Street Corp raised its stake in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC raised its stake in Amazon.com by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after purchasing an additional 6,545,944 shares in the last quarter. Legal & General Group Plc raised its stake in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after purchasing an additional 289,532 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Amazon.com by 3.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after purchasing an additional 1,984,592 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.