Amazon.com (NASDAQ:AMZN) Price Target Raised to $260.00

Amazon.com (NASDAQ:AMZN) had its price objective increased by Raymond James from $230.00 to $260.00 in a research note released on Tuesday,Benzinga reports. They currently have a strong-buy rating on the e-commerce giant’s stock.

AMZN has been the subject of a number of other reports. Wells Fargo & Company lifted their price objective on shares of Amazon.com from $197.00 to $212.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price target on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. UBS Group increased their price objective on Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Maxim Group lifted their target price on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.72.

Amazon.com Price Performance

AMZN opened at $235.42 on Tuesday. The firm’s fifty day moving average price is $219.15 and its two-hundred day moving average price is $196.95. The company has a market capitalization of $2.48 trillion, a price-to-earnings ratio of 50.41, a P/E/G ratio of 1.29 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com has a 1 year low of $151.61 and a 1 year high of $235.52.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. As a group, analysts anticipate that Amazon.com will post 5.39 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amazon.com

Institutional investors have recently bought and sold shares of the business. Accordant Advisory Group Inc lifted its stake in Amazon.com by 400.0% during the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Icon Wealth Advisors LLC raised its holdings in 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 worth $28,000 after purchasing an additional 25,581 shares in the last quarter. PayPay Securities Corp lifted its position in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new position in shares of Amazon.com in the 3rd quarter valued at $37,000. Finally, Bull Oak Capital LLC purchased a new position in shares of Amazon.com in the 3rd quarter valued at $45,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

About Amazon.com

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.