Cantor Fitzgerald Initiates Coverage on Amazon.com (NASDAQ:AMZN)

Research analysts at Cantor Fitzgerald started coverage on shares of Amazon.com (NASDAQ:AMZN) in a note issued to investors on Thursday, Marketbeat.com reports. The firm set an “overweight” rating and a $230.00 price target on the e-commerce giant’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 34.20% from the stock’s previous close.

Several other research firms have also recently weighed in on AMZN. Sanford C. Bernstein lifted their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Truist Financial lifted their target price on Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of Amazon.com in a research report on Friday, August 2nd. Barclays boosted their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Roth Mkm increased their target price on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $222.49.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $171.39 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The company has a market capitalization of $1.78 trillion, a PE ratio of 48.01, a price-to-earnings-growth ratio of 1.34 and a beta of 1.14. The stock has a fifty day moving average of $181.10 and a 200-day moving average of $181.19. Amazon.com has a one year low of $118.35 and a one year high of $201.20.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The firm had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. As a group, equities analysts anticipate that Amazon.com will post 4.86 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,104,317 shares of company stock valued at $1,220,621,322. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Amazon.com in the 4th quarter valued at $17,700,551,000. Vanguard Group Inc. boosted its stake in shares of Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Swedbank AB acquired a new position in Amazon.com in the first quarter valued at approximately $2,239,757,000. Capital World Investors grew its holdings in Amazon.com by 64.6% during the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after acquiring an additional 11,524,463 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.