Amazon.com (NASDAQ:AMZN) Price Target Raised to $246.00

Amazon.com (NASDAQ:AMZN) had its price target lifted by equities research analysts at Scotiabank from $245.00 to $246.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “sector outperform” rating on the e-commerce giant’s stock. Scotiabank’s price objective would indicate a potential upside of 24.09% from the stock’s previous close.

AMZN has been the topic of several other research reports. Evercore ISI boosted their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday. UBS Group boosted 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. Sanford C. Bernstein increased their price objective on Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Telsey Advisory Group upped their price target on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Maxim Group boosted their target price on shares of Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus target price of $241.62.

Amazon.com Stock Up 6.4 %

Shares of NASDAQ AMZN traded up $11.84 during trading on Friday, reaching $198.24. 32,556,348 shares of the stock were exchanged, compared to its average volume of 41,013,570. The business’s 50-day moving average price is $184.40 and its 200 day moving average price is $183.65. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 47.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. Amazon.com has a twelve month low of $136.47 and a twelve month high of $201.20.

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 net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts forecast that Amazon.com will post 4.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,855 shares of company stock valued at $9,215,048 in the last three months. 10.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

A number of institutional investors have recently modified their holdings of AMZN. PayPay Securities Corp boosted its holdings 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 valued at $32,000 after purchasing 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 about $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com during the 3rd quarter worth approximately $45,000. Values First Advisors Inc. purchased a new position in Amazon.com in the third quarter valued at approximately $56,000. Finally, Christopher J. Hasenberg Inc lifted its position in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds 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.