Amazon.com (NASDAQ:AMZN) Price Target Raised to $260.00

Amazon.com (NASDAQ:AMZN) had its price objective increased by analysts at Wedbush from $250.00 to $260.00 in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the e-commerce giant’s stock. Wedbush’s target price suggests a potential upside of 15.97% from the stock’s current price.

Several other brokerages have also commented on AMZN. UBS Group increased their price objective on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a report on Monday, December 16th. Redburn Atlantic lifted their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Evercore ISI raised their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird boosted their price target on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Wolfe Research raised their price objective on Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.67.

Amazon.com Trading Up 1.8 %

Shares of AMZN opened at $224.19 on Monday. The firm has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 48.01, a PEG ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com has a 1-year low of $144.05 and a 1-year high of $233.00. The company has a 50-day moving average of $213.07 and a 200 day moving average of $194.21.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating 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 firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts expect that Amazon.com will post 5.29 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the sale, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 in the last ninety days. 10.80% of the stock is owned by insiders.

Institutional Trading of Amazon.com

Several institutional investors have recently added to or reduced their stakes in AMZN. International Assets Investment Management LLC grew its stake in shares of Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after buying an additional 38,949,065 shares in the last quarter. Parnassus Investments LLC grew its position in Amazon.com by 82,457.3% in the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after acquiring an additional 11,391,479 shares in the last quarter. State Street Corp grew its position in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after acquiring an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC increased its stake in Amazon.com by 3.4% during 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 purchasing an additional 6,545,944 shares during the period. Finally, Strategic Financial Concepts LLC lifted its position in shares of Amazon.com by 13,606.7% during the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock worth $759,971,000 after purchasing an additional 3,903,889 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.