Amazon.com (NASDAQ:AMZN) Price Target Raised to $248.00

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

A number of other brokerages have also recently issued reports on AMZN. Roth Mkm lifted their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Piper Sandler lifted their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Jefferies Financial Group increased their price objective on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Benchmark raised their target price on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Monness Crespi & Hardt upped their price target on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $236.20.

Amazon.com Stock Down 1.0 %

AMZN stock opened at $205.74 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com has a fifty-two week low of $142.81 and a fifty-two week high of $215.90. The stock’s 50 day simple moving average is $194.46 and its 200 day simple moving average is $186.79. The company has a market cap of $2.16 trillion, a P/E ratio of 44.06, a price-to-earnings-growth ratio of 1.35 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 for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts expect that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the sale, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,026,683 shares of company stock valued at $1,252,148,795. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently made changes to their positions in AMZN. Icon Wealth Advisors LLC increased its position in shares of Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares during the period. PayPay Securities Corp raised its position in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new position in shares of Amazon.com in the 3rd quarter valued at approximately $37,000. Bull Oak Capital LLC bought a new stake in shares of Amazon.com during the third quarter valued at approximately $45,000. Finally, Values First Advisors Inc. purchased a new stake in Amazon.com in the third quarter worth $56,000. Institutional investors 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.