Amazon.com (NASDAQ:AMZN) Earns Buy Rating from Needham & Company LLC

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They currently have a $210.00 target price on the e-commerce giant’s stock. Needham & Company LLC’s target price points to a potential upside of 12.61% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Roth Mkm raised their price target on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Maxim Group raised their price target on shares of Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Tigress Financial raised their price target on shares of Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Rosenblatt Securities raised their price target on shares of Amazon.com from $220.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Robert W. Baird raised their price target on shares of Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. One analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $222.49.

Amazon.com Stock Performance

Shares of AMZN opened at $186.49 on Thursday. The firm’s 50 day moving average is $179.51 and its 200-day moving average is $181.56. The stock has a market capitalization of $1.96 trillion, a P/E ratio of 52.24, a P/E/G ratio of 1.39 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. Amazon.com has a 12-month low of $118.35 and a 12-month high of $201.20.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. The business had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Equities research analysts anticipate that Amazon.com will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP David Zapolsky sold 4,710 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total transaction of $918,450.00. Following the completion of the sale, the senior vice president now directly owns 59,500 shares in the company, valued at approximately $11,602,500. The disclosure for this sale can be found here. Insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322 in the last 90 days. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amazon.com

Several institutional investors and hedge funds have recently made changes to their positions in AMZN. Norges Bank acquired a new stake in shares of Amazon.com in the 4th quarter valued at $17,700,551,000. Vanguard Group Inc. boosted its stake in shares of Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares in the last quarter. Swedbank AB acquired a new position in Amazon.com during the 1st quarter worth about $2,239,757,000. Capital World Investors lifted its position in Amazon.com by 64.6% during the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after buying an additional 11,524,463 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares in the last quarter. Institutional investors and hedge funds 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.