Amazon.com (NASDAQ:AMZN) Shares Gap Up on Better-Than-Expected Earnings

Amazon.com, Inc. (NASDAQ:AMZN) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $186.40, but opened at $199.00. Amazon.com shares last traded at $199.81, with a volume of 26,720,238 shares changing hands.

The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMZN shares. Sanford C. Bernstein boosted their price target on Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Rosenblatt Securities boosted their price target on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research note on Friday. TD Cowen upped their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday. Wolfe Research assumed coverage on Amazon.com in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 target price on the stock. Finally, Monness Crespi & Hardt lifted their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average price target of $241.16.

Insider Activity at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of Amazon.com 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 transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction 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 sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,855 shares of company stock valued at $9,215,048. 10.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors have recently made changes to their positions in the stock. ABLE Financial Group LLC boosted its position in shares of Amazon.com by 0.8% during the 3rd quarter. ABLE Financial Group LLC now owns 22,814 shares of the e-commerce giant’s stock worth $4,251,000 after purchasing an additional 187 shares during the period. Strategic Family Wealth Counselors L.L.C. boosted its position in shares of Amazon.com by 5.6% during the third quarter. Strategic Family Wealth Counselors L.L.C. now owns 5,756 shares of the e-commerce giant’s stock worth $1,073,000 after buying an additional 306 shares during the period. Capital Performance Advisors LLP grew its stake in shares of Amazon.com by 26.7% in the third quarter. Capital Performance Advisors LLP now owns 20,077 shares of the e-commerce giant’s stock valued at $3,741,000 after buying an additional 4,231 shares in the last quarter. Philip James Wealth Mangement LLC grew its stake in shares of Amazon.com by 12.8% in the third quarter. Philip James Wealth Mangement LLC now owns 8,369 shares of the e-commerce giant’s stock valued at $1,559,000 after buying an additional 951 shares in the last quarter. Finally, Stiles Financial Services Inc raised its holdings in shares of Amazon.com by 0.7% in the 3rd quarter. Stiles Financial Services Inc now owns 39,572 shares of the e-commerce giant’s stock valued at $7,373,000 after buying an additional 289 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Trading Up 7.2 %

The stock has a market cap of $2.10 trillion, a price-to-earnings ratio of 47.77, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The company has a 50 day moving average of $184.40 and a 200-day moving average of $183.65.

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.