Amazon.com (NASDAQ:AMZN) Given New $240.00 Price Target at The Goldman Sachs Group

Amazon.com (NASDAQ:AMZN) had its price target lifted by The Goldman Sachs Group from $230.00 to $240.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

A number of other analysts have also recently commented on AMZN. Itau BBA Securities cut Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target for the company. in a research note on Friday, August 2nd. Wells Fargo & Company downgraded shares of Amazon.com from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $225.00 to $183.00 in a research note on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and set a $215.00 price target on shares of Amazon.com in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Roth Mkm lifted their target price on Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $246.48.

Amazon.com Price Performance

Shares of AMZN stock opened at $195.78 on Friday. The firm’s 50 day moving average price is $185.23 and its two-hundred day moving average price is $183.89. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com has a 52-week low of $138.36 and a 52-week high of $201.20. The stock has a market cap of $2.05 trillion, a PE ratio of 41.92, a PEG ratio of 1.42 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 23.46% and a net margin of 8.04%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $0.85 EPS. As a group, analysts forecast that Amazon.com will post 4.84 EPS for the current year.

Insider Buying and Selling

In other Amazon.com news, 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 value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction that occurred on 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 approximately $12,171,900. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,855 shares of company stock valued at $9,215,048. 10.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Amazon.com

Large investors have recently modified their holdings of the business. Phillips Wealth Planners LLC lifted its holdings in shares of Amazon.com by 9.2% in the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after acquiring an additional 224 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Amazon.com by 0.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after purchasing an additional 14,766 shares in the last quarter. GAMMA Investing LLC increased its position in Amazon.com by 19.2% during the 3rd quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock worth $22,211,000 after purchasing an additional 19,231 shares in the last quarter. Stonekeep Investments LLC bought a new position in Amazon.com in the 2nd quarter valued at approximately $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Amazon.com by 164.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock worth $203,677,000 after buying an additional 654,908 shares during 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.