Evercore ISI Boosts Amazon.com (NASDAQ:AMZN) Price Target to $240.00

Amazon.com (NASDAQ:AMZN) had its price target raised by equities researchers at Evercore ISI from $225.00 to $240.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the e-commerce giant’s stock. Evercore ISI’s target price suggests a potential upside of 26.40% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets restated an “outperform” rating and issued a $230.00 price target on shares of Amazon.com in a research report on Thursday. Tigress Financial raised their target price on shares of Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Truist Financial boosted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group reduced their price target on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Wedbush restated an “outperform” rating and set a $225.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating, forty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Buy” and an average target price of $222.84.

Amazon.com Price Performance

NASDAQ:AMZN opened at $189.87 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The firm has a market cap of $1.98 trillion, a price-to-earnings ratio of 53.18, a P/E/G ratio of 1.39 and a beta of 1.14. Amazon.com has a 52 week low of $118.35 and a 52 week high of $201.20. The firm’s 50-day simple moving average is $178.60 and its 200 day simple moving average is $181.88.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. As a group, sell-side analysts predict that Amazon.com will post 4.86 earnings per share for the current year.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the transaction, the chief executive officer now directly owns 519,753 shares in the company, valued at approximately $101,866,390.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $195.99, for a total value of $685,965.00. Following the transaction, the chief executive officer now directly owns 519,753 shares in the company, valued at $101,866,390.47. 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 ninety days. 10.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently modified their holdings of AMZN. PayPay Securities Corp increased its stake in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Cooksen Wealth LLC bought a new position in shares of Amazon.com in the fourth quarter valued at $30,000. Christopher J. Hasenberg Inc grew its holdings in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares during the last quarter. Clarity Asset Management Inc. bought a new stake in shares of Amazon.com during the fourth quarter worth about $46,000. Finally, Steph & Co. acquired a new stake in shares of Amazon.com in the 1st quarter worth about $65,000. Institutional investors 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.