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

Amazon.com (NASDAQ:AMZN) had its price objective boosted by Rosenblatt Securities from $221.00 to $236.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

A number of other brokerages have also weighed in on AMZN. Royal Bank of Canada reiterated an “outperform” rating and issued a $215.00 price target on shares of Amazon.com in a report on Friday, August 2nd. Benchmark reiterated a “buy” rating and issued a $200.00 target price on shares of Amazon.com in a report on Friday, August 2nd. Bank of America cut their price objective on Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Scotiabank initiated coverage on Amazon.com in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $245.00 price objective on the stock. Finally, The Goldman Sachs Group dropped their target price on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.02.

Amazon.com Trading Up 6.2 %

Shares of Amazon.com stock opened at $197.93 on Friday. Amazon.com has a fifty-two week low of $136.47 and a fifty-two week high of $201.20. The business’s fifty day moving average is $184.82 and its two-hundred day moving average is $183.77. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.08 trillion, a PE ratio of 42.38, a P/E/G ratio of 1.42 and a beta of 1.14.

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 the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 23.46% and a net margin of 8.04%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. Analysts anticipate that Amazon.com will post 4.84 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,855 shares of company stock worth $9,215,048 over the last quarter. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PayPay Securities Corp raised its stake in shares of Amazon.com by 64.6% during the second 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. Hoese & Co LLP bought a new position in Amazon.com in the 3rd quarter valued at about $37,000. Bull Oak Capital LLC acquired a new position in Amazon.com during the 3rd quarter valued at about $45,000. Christopher J. Hasenberg Inc raised its position in shares of Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new stake in shares of Amazon.com in the 3rd quarter worth approximately $56,000. 72.20% of the stock is owned by institutional investors.

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.