Amazon.com (NASDAQ:AMZN) Trading 2.9% Higher on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price rose 2.9% during trading on Monday after Mizuho raised their price target on the stock from $240.00 to $260.00. Mizuho currently has an outperform rating on the stock. Amazon.com traded as high as $227.15 and last traded at $227.03. Approximately 44,178,069 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 39,087,448 shares. The stock had previously closed at $220.55.

A number of other equities analysts have also recently issued reports on AMZN. Scotiabank upped their price objective on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on shares of Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their target price on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, UBS Group lifted their price target on shares of Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $237.42.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the transaction, the chief executive officer now owns 349,261 shares in the company, valued at $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,030,183 shares of company stock worth $1,252,883,795. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently bought and sold shares of AMZN. DGS Capital Management LLC boosted its holdings in Amazon.com by 4.3% in the third quarter. DGS Capital Management LLC now owns 25,410 shares of the e-commerce giant’s stock worth $4,735,000 after acquiring an additional 1,039 shares in the last quarter. Copley Financial Group Inc. acquired a new stake in Amazon.com during the 3rd quarter worth about $705,000. Milestone Resources Group Ltd lifted its holdings in shares of Amazon.com by 31.9% during the third quarter. Milestone Resources Group Ltd now owns 1,183,916 shares of the e-commerce giant’s stock worth $220,599,000 after purchasing an additional 286,141 shares during the period. FFG Partners LLC raised its position in Amazon.com by 0.3% during the 3rd quarter. FFG Partners LLC now owns 61,275 shares of the e-commerce giant’s stock worth $11,417,000 after buying an additional 210 shares during the last quarter. Finally, Dantai Capital Ltd lifted its stake in Amazon.com by 10.6% during the 3rd quarter. Dantai Capital Ltd now owns 30,415 shares of the e-commerce giant’s stock valued at $5,667,000 after acquiring an additional 2,925 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average price is $198.19 and its 200 day moving average price is $188.47. The firm has a market capitalization of $2.37 trillion, a PE ratio of 48.19, a P/E/G ratio of 1.52 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. 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 firm posted $0.85 EPS. As a group, equities analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

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.