Amazon.com (NASDAQ:AMZN) Price Target Raised to $220.00

Amazon.com (NASDAQ:AMZN) had its price objective boosted by Bank of America from $210.00 to $220.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the e-commerce giant’s stock.

Several other equities research analysts have also recently commented on the company. Moffett Nathanson reaffirmed a buy rating and issued a $228.00 price target on shares of Amazon.com in a report on Thursday, April 11th. Truist Financial raised their target price on Amazon.com from $216.00 to $220.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on Amazon.com from $225.00 to $240.00 and gave the stock an overweight rating in a research note on Wednesday, May 1st. Barclays raised their target price on Amazon.com from $220.00 to $230.00 and gave the stock an overweight rating in a research note on Wednesday, May 1st. Finally, Needham & Company LLC reissued a buy rating and set a $205.00 target price on shares of Amazon.com in a research note on Wednesday, May 15th. One research analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has an average rating of Buy and a consensus price target of $215.86.

Amazon.com Price Performance

NASDAQ:AMZN opened at $193.25 on Wednesday. Amazon.com has a one year low of $118.35 and a one year high of $199.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. The stock has a market cap of $2.01 trillion, a PE ratio of 54.13, a P/E/G ratio of 1.39 and a beta of 1.14. The stock has a 50 day moving average price of $183.87 and a 200 day moving average price of $172.93.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, beating the consensus estimate of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The firm had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter last year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts expect that Amazon.com will post 4.72 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $184.00, for a total transaction of $92,000.00. Following the sale, the chief executive officer now owns 131,600 shares of the company’s stock, valued at approximately $24,214,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $184.00, for a total transaction of $92,000.00. Following the transaction, the chief executive officer now owns 131,600 shares of the company’s stock, valued at approximately $24,214,400. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $180.73, for a total value of $632,555.00. Following the transaction, the chief executive officer now directly owns 512,858 shares in the company, valued at approximately $92,688,826.34. The disclosure for this sale can be found here. Insiders have sold 65,338 shares of company stock valued at $11,894,344 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amazon.com

Large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Amazon.com during the fourth quarter worth about $17,700,551,000. Vanguard Group Inc. grew its stake in Amazon.com by 4.4% in the third quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock worth $96,350,832,000 after purchasing an additional 32,038,029 shares in the last quarter. International Assets Investment Management LLC grew its stake in Amazon.com by 16,029.3% in the fourth quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock worth $36,260,810,000 after purchasing an additional 23,717,254 shares in the last quarter. FMR LLC grew its stake in Amazon.com by 7.7% in the third quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock worth $38,403,135,000 after purchasing an additional 21,649,871 shares in the last quarter. Finally, Swedbank AB acquired a new position in Amazon.com in the first quarter worth about $2,239,757,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.