Amazon.com (NASDAQ:AMZN)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research note issued to investors on Monday, MarketBeat.com reports. They currently have a $280.00 price target on the e-commerce giant’s stock, up from their previous price target of $260.00. Wedbush’s price target would indicate a potential upside of 17.57% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. Mizuho upped 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 Tuesday, December 10th. Stifel Nicolaus raised their price objective on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and issued a $236.00 target price on shares of Amazon.com in a report on Tuesday, December 3rd. UBS Group raised their price target on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, DA Davidson reissued a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and an average price target of $249.46.
Read Our Latest Stock Report on AMZN
Amazon.com Trading Up 1.2 %
Amazon.com (NASDAQ:AMZN – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts forecast that Amazon.com will post 5.39 earnings per share for the current fiscal year.
Insider Transactions at Amazon.com
In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. 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 three months. Company insiders own 10.80% of the company’s stock.
Hedge Funds Weigh In On Amazon.com
A number of institutional investors have recently bought and sold shares of the business. Rench Wealth Management Inc. lifted its position in Amazon.com by 7.9% during the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after acquiring an additional 3,703 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after buying an additional 16,392 shares in the last quarter. Blankinship & Foster LLC boosted its position in shares of Amazon.com by 216.4% in the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after acquiring an additional 4,740 shares during the period. Umpqua Bank grew its stake in shares of Amazon.com by 0.4% in the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after acquiring an additional 137 shares in the last quarter. Finally, Floyd Financial Group LLC bought a new position in Amazon.com during the fourth quarter worth about $4,494,000. 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.
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