Amazon.com (NASDAQ:AMZN) Price Target Raised to $306.00 at Scotiabank

Amazon.com (NASDAQ:AMZN) had its price objective lifted by Scotiabank from $246.00 to $306.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sector outperform” rating on the e-commerce giant’s stock. Scotiabank’s target price indicates a potential upside of 30.30% from the company’s previous close.

Several other research firms also recently commented on AMZN. Jefferies Financial Group boosted their price objective on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a report on Monday, December 16th. HSBC upped their price objective on shares of Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Susquehanna boosted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. The Goldman Sachs Group raised their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Maxim Group boosted their price objective on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $249.02.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $234.85 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com has a twelve month low of $151.61 and a twelve month high of $236.40. The company has a fifty day moving average of $220.27 and a 200-day moving average of $197.47. The firm has a market capitalization of $2.47 trillion, a P/E ratio of 50.29, a P/E/G ratio of 1.31 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, sell-side analysts anticipate that Amazon.com will post 5.39 EPS for the current year.

Insider Transactions at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the transaction, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tempus Wealth Planning LLC lifted its position in Amazon.com by 8.1% in the 4th quarter. Tempus Wealth Planning LLC now owns 17,404 shares of the e-commerce giant’s stock worth $3,818,000 after buying an additional 1,301 shares during the last quarter. Flavin Financial Services Inc. purchased a new stake in shares of Amazon.com in the 4th quarter valued at $878,000. First Dallas Securities Inc. grew its holdings in shares of Amazon.com by 24.3% during the 4th quarter. First Dallas Securities Inc. now owns 35,108 shares of the e-commerce giant’s stock valued at $7,702,000 after purchasing an additional 6,870 shares during the last quarter. Calamos Wealth Management LLC raised its position in Amazon.com by 1.2% in the 4th quarter. Calamos Wealth Management LLC now owns 296,925 shares of the e-commerce giant’s stock worth $65,142,000 after purchasing an additional 3,582 shares during the period. Finally, Patron Partners LLC lifted its stake in Amazon.com by 1.1% in the fourth quarter. Patron Partners LLC now owns 29,321 shares of the e-commerce giant’s stock worth $6,433,000 after purchasing an additional 308 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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.