JPMorgan Chase & Co. Raises Amazon.com (NASDAQ:AMZN) Price Target to $240.00

Amazon.com (NASDAQ:AMZN) had its target price lifted by JPMorgan Chase & Co. from $225.00 to $240.00 in a research note published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the e-commerce giant’s stock.

AMZN has been the topic of several other reports. TD Cowen raised their price target on Amazon.com from $200.00 to $225.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Truist Financial raised their price target on Amazon.com from $216.00 to $220.00 and gave the stock a buy rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on Amazon.com from $175.00 to $200.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Canaccord Genuity Group raised their price target on Amazon.com from $185.00 to $200.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group raised their price target on Amazon.com from $220.00 to $225.00 and gave the stock a buy rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $211.07.

Amazon.com Stock Up 0.8 %

Shares of AMZN opened at $186.21 on Wednesday. The firm has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 52.16, a PEG ratio of 1.37 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.84 and a current ratio of 1.07. The business’s fifty day moving average price is $179.02 and its two-hundred day moving average price is $160.32. Amazon.com has a 52 week low of $103.31 and a 52 week high of $189.77.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. The firm had revenue of $143.31 billion for the quarter, compared to analyst estimates of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. On average, analysts predict that Amazon.com will post 4.55 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $180.29, for a total transaction of $631,015.00. Following the completion of the transaction, the chief executive officer now owns 509,358 shares in the company, valued at $91,832,153.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $184.00, for a total transaction of $92,000.00. Following the completion of the transaction, the chief executive officer now owns 131,600 shares in the company, valued at $24,214,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $180.29, for a total value of $631,015.00. Following the transaction, the chief executive officer now owns 509,358 shares of the company’s stock, valued at approximately $91,832,153.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,217,010 shares of company stock worth $5,506,442,301. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Institutional investors have recently made changes to their positions in the company. Cooksen Wealth LLC bought a new stake in shares of Amazon.com during the fourth quarter worth approximately $30,000. PayPay Securities Corp boosted its holdings in shares of Amazon.com by 54.3% during the third quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock worth $34,000 after acquiring an additional 94 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Amazon.com by 45.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock worth $42,000 after acquiring an additional 86 shares during the period. Strid Group LLC bought a new stake in shares of Amazon.com during the fourth quarter worth approximately $43,000. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of Amazon.com by 0.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 1,988 shares during the period. 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.