Needham & Company LLC Reaffirms “Buy” Rating for Amazon.com (NASDAQ:AMZN)

Needham & Company LLC reaffirmed their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research report report published on Thursday, Benzinga reports. They currently have a $210.00 price objective on the e-commerce giant’s stock.

Several other research firms have also issued reports on AMZN. Scotiabank initiated coverage on Amazon.com in a report on Friday, October 11th. They set a “sector outperform” rating and a $245.00 price target for the company. Truist Financial increased their target price on shares of Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a report on Monday, October 7th. The Goldman Sachs Group reduced their price objective on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Pivotal Research started coverage on shares of Amazon.com in a research note on Friday, October 11th. They set a “buy” rating and a $260.00 target price on the stock. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

Amazon.com Stock Performance

AMZN stock opened at $187.83 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. Amazon.com has a 1 year low of $118.35 and a 1 year high of $201.20. The company has a market cap of $1.95 trillion, a P/E ratio of 52.61, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The stock’s fifty day moving average price is $183.50 and its 200-day moving average price is $183.56.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. On average, equities analysts forecast that Amazon.com will post 4.85 earnings per share for the current year.

Insider Activity

In related news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,355 shares of company stock valued at $9,877,423. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Institutional investors have recently bought and sold shares of the business. S.A. Mason LLC lifted its stake in shares of Amazon.com by 18.1% during the 3rd quarter. S.A. Mason LLC now owns 4,087 shares of the e-commerce giant’s stock worth $762,000 after purchasing an additional 625 shares during the last quarter. 1620 Investment Advisors Inc. boosted its holdings in shares of Amazon.com by 3.1% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 3,373 shares of the e-commerce giant’s stock valued at $628,000 after buying an additional 100 shares in the last quarter. Solidarity Wealth LLC grew its position in shares of Amazon.com by 18.1% in the 3rd quarter. Solidarity Wealth LLC now owns 129,910 shares of the e-commerce giant’s stock worth $24,206,000 after buying an additional 19,877 shares during the last quarter. Cornerstone Wealth Group LLC lifted its position in Amazon.com by 1.9% during the third quarter. Cornerstone Wealth Group LLC now owns 78,239 shares of the e-commerce giant’s stock valued at $14,578,000 after acquiring an additional 1,431 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV grew its holdings in Amazon.com by 16.0% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 99,475 shares of the e-commerce giant’s stock worth $18,535,000 after purchasing an additional 13,720 shares during the last quarter. 72.20% of the stock is 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.