Truist Financial Boosts Amazon.com (NASDAQ:AMZN) Price Target to $270.00

Amazon.com (NASDAQ:AMZN) had its target price hoisted by Truist Financial from $265.00 to $270.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

Other research analysts also recently issued reports about the company. Piper Sandler boosted their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday. The Goldman Sachs Group boosted their price target on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer boosted their price target on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley reissued an “overweight” rating and issued a $210.00 price target on shares of Amazon.com in a report on Thursday, October 3rd. Finally, Wolfe Research started coverage on Amazon.com in a report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price target for the company. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $244.11.

Amazon.com Stock Performance

Shares of Amazon.com stock traded up $11.53 on Friday, reaching $197.93. 99,687,847 shares of the stock were exchanged, compared to its average volume of 41,329,359. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Amazon.com has a twelve month low of $136.47 and a twelve month high of $201.20. The firm has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 47.35, a PEG ratio of 1.46 and a beta of 1.14. The business has a 50 day moving average price of $184.82 and a two-hundred day moving average price of $183.75.

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. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The firm had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. Analysts anticipate that Amazon.com will post 4.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $8,820,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $8,820,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,855 shares of company stock valued at $9,215,048 in the last quarter. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several hedge funds have recently bought and sold shares of AMZN. PayPay Securities Corp lifted its stake in 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 acquiring an additional 64 shares in the last quarter. Hoese & Co LLP acquired a new position in Amazon.com during the 3rd quarter worth about $37,000. Bull Oak Capital LLC acquired a new position in Amazon.com during the 3rd quarter worth about $45,000. Values First Advisors Inc. acquired a new position in Amazon.com during the 3rd quarter worth about $56,000. Finally, Christopher J. Hasenberg Inc lifted its stake in Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.