Amazon.com (NASDAQ:AMZN) Price Target Raised to $240.00

Amazon.com (NASDAQ:AMZN) had its price target boosted by TD Cowen from $230.00 to $240.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

Several other equities analysts have also recently issued reports on the company. Bank of America decreased their price objective on Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group lowered 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 note on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price target on shares of Amazon.com in a report on Tuesday, October 15th. Telsey Advisory Group reiterated an “outperform” rating and issued a $215.00 price objective on shares of Amazon.com in a report on Thursday, October 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Amazon.com in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $246.48.

Amazon.com Stock Down 1.1 %

Shares of AMZN opened at $195.78 on Friday. Amazon.com has a 1 year low of $138.36 and a 1 year high of $201.20. The company’s 50-day simple moving average is $185.23 and its 200-day simple moving average is $183.89. The stock has a market capitalization of $2.05 trillion, a PE ratio of 41.92, a P/E/G ratio of 1.42 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 23.46% and a net margin of 8.04%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. Analysts forecast that Amazon.com will post 4.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were 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 $21,989,299.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,855 shares of company stock valued at $9,215,048. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cambridge Advisors Inc. boosted its stake in shares of Amazon.com by 1.5% during the 1st quarter. Cambridge Advisors Inc. now owns 4,625 shares of the e-commerce giant’s stock worth $834,000 after purchasing an additional 70 shares during the last quarter. Kathmere Capital Management LLC boosted its position in Amazon.com by 71.5% during the first quarter. Kathmere Capital Management LLC now owns 8,776 shares of the e-commerce giant’s stock worth $1,583,000 after acquiring an additional 3,658 shares during the last quarter. Norway Savings Bank grew its stake in Amazon.com by 3.6% in the 1st quarter. Norway Savings Bank now owns 26,688 shares of the e-commerce giant’s stock worth $4,814,000 after acquiring an additional 933 shares during the period. New England Research & Management Inc. raised its holdings in Amazon.com by 5.9% in the 1st quarter. New England Research & Management Inc. now owns 9,413 shares of the e-commerce giant’s stock valued at $1,698,000 after acquiring an additional 525 shares during the last quarter. Finally, Silverleafe Capital Partners LLC lifted its stake in shares of Amazon.com by 7.8% during the 1st quarter. Silverleafe Capital Partners LLC now owns 4,570 shares of the e-commerce giant’s stock worth $824,000 after purchasing an additional 330 shares during the period. Institutional investors and hedge funds 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.