Amazon.com (NASDAQ:AMZN) Price Target Raised to $315.00

Amazon.com (NASDAQ:AMZN) had its price target lifted by Oppenheimer from $305.00 to $315.00 in a research note released on Wednesday, MarketBeat.com reports. They currently have an outperform rating on the e-commerce giant’s stock.

AMZN has been the subject of several other reports. Wolfe Research reissued an “outperform” rating and issued a $275.00 price target on shares of Amazon.com in a report on Monday, January 5th. Stifel Nicolaus set a $300.00 price objective on Amazon.com and gave the company a “buy” rating in a research note on Tuesday. Piper Sandler restated an “overweight” rating on shares of Amazon.com in a research note on Wednesday, December 3rd. Rothschild & Co Redburn dropped their price target on Amazon.com from $250.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, January 21st. Finally, TD Cowen reissued a “buy” rating on shares of Amazon.com in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, fifty-four have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $295.91.

View Our Latest Stock Analysis on AMZN

Amazon.com Stock Down 1.0%

Shares of NASDAQ AMZN opened at $239.30 on Wednesday. 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 company has a market cap of $2.56 trillion, a P/E ratio of 33.80, a P/E/G ratio of 1.51 and a beta of 1.37. Amazon.com has a 52 week low of $161.38 and a 52 week high of $258.60. The business has a 50-day simple moving average of $233.50 and a two-hundred day simple moving average of $229.64.

Amazon.com (NASDAQ:AMZNGet Free Report) last announced its quarterly earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. The firm had revenue of $180.17 billion for the quarter, compared to the consensus estimate of $177.53 billion. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. Research analysts anticipate that Amazon.com will post 6.31 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Matthew S. Garman sold 17,768 shares of Amazon.com stock in a transaction on Friday, November 21st. The shares were sold at an average price of $216.90, for a total value of $3,853,879.20. Following the transaction, the chief executive officer owned 6,273 shares in the company, valued at $1,360,613.70. This trade represents a 73.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $226.61, for a total transaction of $280,316.57. Following the sale, the director owned 26,148 shares of the company’s stock, valued at approximately $5,925,398.28. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,561 shares of company stock worth $10,989,862 in the last 90 days. Corporate insiders own 9.70% of the company’s stock.

Institutional Trading of Amazon.com

A number of institutional investors have recently made changes to their positions in the stock. Wilson Asset Management International PTY Ltd. acquired a new stake in Amazon.com during the 2nd quarter worth about $11,102,000. ARK Investment Management LLC lifted its holdings in shares of Amazon.com by 8.3% during the second quarter. ARK Investment Management LLC now owns 1,140,494 shares of the e-commerce giant’s stock worth $250,213,000 after purchasing an additional 86,978 shares during the period. Buckhead Capital Management LLC boosted its position in Amazon.com by 16.1% in the second quarter. Buckhead Capital Management LLC now owns 28,407 shares of the e-commerce giant’s stock valued at $6,232,000 after buying an additional 3,948 shares during the last quarter. Alpha Wealth Funds LLC increased its holdings in Amazon.com by 172.8% in the 2nd quarter. Alpha Wealth Funds LLC now owns 3,012 shares of the e-commerce giant’s stock worth $667,000 after buying an additional 1,908 shares during the period. Finally, DJE Kapital AG raised its position in Amazon.com by 12.3% during the 2nd quarter. DJE Kapital AG now owns 1,037,443 shares of the e-commerce giant’s stock worth $229,890,000 after buying an additional 113,345 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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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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