Moffett Nathanson Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective lifted by Moffett Nathanson from $235.00 to $248.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the e-commerce giant’s stock.

AMZN has been the topic of several other research reports. Sanford C. Bernstein lifted their target price on shares of Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird boosted their price target on shares of Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial boosted their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. JMP Securities boosted their target price on shares of Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Finally, Redburn Atlantic boosted their target price on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.20.

Amazon.com Stock Up 3.2 %

Amazon.com stock opened at $207.86 on Tuesday. Amazon.com has a fifty-two week low of $142.81 and a fifty-two week high of $215.90. The business’s 50-day simple moving average is $193.75 and its two-hundred day simple moving average is $186.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The company has a market cap of $2.19 trillion, a PE ratio of 44.51, a PEG ratio of 1.32 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 posted $0.85 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. Equities analysts anticipate that Amazon.com will post 5.29 EPS for the current year.

Insider Transactions at Amazon.com

In other news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the transaction, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,026,683 shares of company stock worth $1,252,148,795. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC raised its holdings in shares of Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after purchasing an additional 38,949,065 shares during the period. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 14,724,687 shares during the period. Swedbank AB bought a new position in Amazon.com in the 1st quarter valued at about $2,239,757,000. Capital World Investors raised its holdings in Amazon.com by 64.6% in the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after acquiring an additional 11,524,463 shares during the period. Finally, Parnassus Investments LLC raised its holdings in Amazon.com by 82,457.3% in the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after acquiring an additional 11,391,479 shares during the period. 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.