Amazon.com’s (AMZN) Buy Rating Reaffirmed at Needham & Company LLC

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $250.00 target price on the e-commerce giant’s stock. Needham & Company LLC’s target price suggests a potential upside of 6.38% from the company’s previous close.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group boosted their target price on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Oppenheimer increased their target price on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Evercore ISI lifted their price target on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird increased their price objective on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, TD Cowen upped their target price on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $247.72.

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Amazon.com Price Performance

Shares of AMZN opened at $235.01 on Tuesday. The stock has a market cap of $2.47 trillion, a P/E ratio of 50.32, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14. Amazon.com has a 1 year low of $151.61 and a 1 year high of $235.44. The stock’s 50-day moving average price is $218.73 and its two-hundred day moving average price is $196.68. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZNGet Free Report) last issued its 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. The firm had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. On average, equities analysts predict that Amazon.com will post 5.39 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com 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 transaction, the chief executive officer now owns 518,911 shares in the company, valued at $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock valued at $1,253,456,822 over the last quarter. 10.80% of the stock is owned by company insiders.

Institutional Trading of Amazon.com

A number of hedge funds and other institutional investors have recently modified their holdings of AMZN. Icon Wealth Advisors LLC raised its position in Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares during the last quarter. PayPay Securities Corp increased its stake in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP bought a new position in Amazon.com in the 3rd quarter valued at approximately $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com during the 3rd quarter worth approximately $45,000. Finally, Values First Advisors Inc. bought a new stake in Amazon.com during the 3rd quarter worth approximately $56,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Company Profile

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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.

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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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