Amazon.com (NASDAQ:AMZN) Price Target Raised to $265.00

Amazon.com (NASDAQ:AMZN) had its price objective upped by Sanford C. Bernstein from $235.00 to $265.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the e-commerce giant’s stock.

Several other equities research analysts have also issued reports on the stock. Evercore ISI raised their target price on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Monness Crespi & Hardt raised their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler upped their target price on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Rosenblatt Securities raised their price target on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus boosted their price objective on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $243.00.

Amazon.com Trading Up 0.7 %

AMZN stock opened at $224.92 on Wednesday. The firm has a market cap of $2.37 trillion, a PE ratio of 48.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The firm has a fifty day moving average price of $205.83 and a 200 day moving average price of $191.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com has a fifty-two week low of $144.05 and a fifty-two week high of $233.00.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts anticipate that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the sale, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,034,534 shares of company stock valued at $1,253,883,872 in the last three months. 10.80% of the stock is owned by insiders.

Institutional Trading of Amazon.com

A number of hedge funds and other institutional investors have recently made changes to their positions in AMZN. State Street Corp grew its position in Amazon.com by 3.3% during the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares during the period. Geode Capital Management LLC boosted its stake in shares of Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after buying an additional 6,545,944 shares during the last quarter. Legal & General Group Plc grew its holdings in Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after acquiring an additional 1,042,177 shares during the period. Bank of New York Mellon Corp raised its position in Amazon.com by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after acquiring an additional 289,532 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Amazon.com by 3.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after acquiring an additional 1,984,592 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.