Evercore ISI Increases Amazon.com (NASDAQ:AMZN) Price Target to $260.00

Amazon.com (NASDAQ:AMZN) had its target price boosted by Evercore ISI from $240.00 to $260.00 in a research report released on Friday, Benzinga reports. Evercore ISI currently has an outperform rating on the e-commerce giant’s stock.

A number of other equities research analysts have also recently weighed in on AMZN. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 price objective on shares of Amazon.com in a research note on Monday, October 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 target price on shares of Amazon.com in a research report on Tuesday, October 15th. Bank of America reduced their price target on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group dropped their price objective on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, DA Davidson reiterated a “buy” rating and set a $235.00 target price on shares of Amazon.com in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $246.48.

Amazon.com Stock Performance

Amazon.com stock opened at $195.78 on Friday. The stock has a market cap of $2.05 trillion, a price-to-earnings ratio of 41.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $185.23 and a 200-day simple moving average of $183.89. Amazon.com has a 1-year low of $138.36 and a 1-year high of $201.20.

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

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 3,791 shares of the firm’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 sale, the vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at $21,989,299.44. This represents 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 worth $9,215,048 over the last 90 days. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amazon.com

Several institutional investors have recently made changes to their positions in AMZN. Apollon Wealth Management LLC lifted its stake in shares of Amazon.com by 1.8% in the third quarter. Apollon Wealth Management LLC now owns 336,720 shares of the e-commerce giant’s stock valued at $62,741,000 after purchasing an additional 5,942 shares during the period. Keystone Financial Services increased its holdings in Amazon.com by 23.0% in the third quarter. Keystone Financial Services now owns 1,596 shares of the e-commerce giant’s stock valued at $297,000 after buying an additional 298 shares in the last quarter. Vestia Personal Wealth Advisors lifted its position in shares of Amazon.com by 21.0% during the 3rd quarter. Vestia Personal Wealth Advisors now owns 1,344 shares of the e-commerce giant’s stock valued at $250,000 after acquiring an additional 233 shares during the period. Once Capital Management LLC boosted its stake in shares of Amazon.com by 10.2% during the 3rd quarter. Once Capital Management LLC now owns 59,400 shares of the e-commerce giant’s stock worth $11,068,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Everhart Financial Group Inc. grew its holdings in shares of Amazon.com by 9.0% in the 3rd quarter. Everhart Financial Group Inc. now owns 46,807 shares of the e-commerce giant’s stock worth $8,703,000 after acquiring an additional 3,866 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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.