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

Amazon.com (NASDAQ:AMZN) had its target price increased by Oppenheimer from $215.00 to $250.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the e-commerce giant’s stock.

A number of other research analysts have also weighed in on AMZN. Mizuho cut their price target on shares of Amazon.com from $285.00 to $255.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Tigress Financial lifted their price target on shares of Amazon.com from $290.00 to $305.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Stifel Nicolaus cut their price target on shares of Amazon.com from $248.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Truist Financial cut their price objective on shares of Amazon.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Benchmark reissued a “buy” rating and issued a $260.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $245.53.

Amazon.com Stock Performance

Shares of AMZN opened at $209.69 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. Amazon.com has a twelve month low of $151.61 and a twelve month high of $242.52. The firm’s 50 day moving average price is $198.41 and its two-hundred day moving average price is $209.17. The firm has a market cap of $2.23 trillion, a P/E ratio of 34.15, a PEG ratio of 1.58 and a beta of 1.34.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Amazon.com will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the transaction, the chief executive officer now directly owns 509,474 shares in the company, valued at $95,776,017.26. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shelley Reynolds sold 2,695 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total transaction of $541,129.05. Following the completion of the transaction, the vice president now owns 119,780 shares in the company, valued at approximately $24,050,626.20. This represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock worth $20,531,075 over the last ninety days. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors have recently modified their holdings of AMZN. Norges Bank bought a new stake in shares of Amazon.com in the fourth quarter valued at about $27,266,582,000. Nuveen LLC bought a new stake in shares of Amazon.com in the first quarter valued at about $11,674,091,000. GAMMA Investing LLC boosted its position in shares of Amazon.com by 21,420.5% in the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock valued at $5,754,425,000 after acquiring an additional 30,104,520 shares during the period. Capital World Investors boosted its position in shares of Amazon.com by 36.8% in the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after acquiring an additional 17,681,004 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after acquiring an additional 17,635,391 shares during the period. Institutional investors own 72.20% of the company’s stock.

Amazon.com Company Profile

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.