Amazon.com (NASDAQ:AMZN) Price Target Raised to $270.00

Amazon.com (NASDAQ:AMZN) had its price objective raised by HSBC from $225.00 to $270.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the e-commerce giant’s stock.

Several other analysts also recently issued reports on the company. Moffett Nathanson upped their price target on Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Scotiabank lifted their price objective on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Truist Financial upped their price objective on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Evercore ISI lifted their target price on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.65.

Amazon.com Trading Up 2.6 %

Shares of NASDAQ:AMZN opened at $223.35 on Monday. The company has a 50 day moving average price of $217.02 and a 200 day moving average price of $195.74. The stock has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 47.83, a PEG ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com has a 1-year low of $149.91 and a 1-year high of $233.00.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The firm 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 22.41% and a net margin of 8.04%. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. On average, research analysts anticipate that Amazon.com will post 5.29 EPS for the current fiscal year.

Insider Activity

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State Street Corp raised its position in Amazon.com by 3.3% during the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC raised its stake in Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after buying an additional 6,545,944 shares during the period. Legal & General Group Plc raised its holdings in Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after buying an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after acquiring an additional 289,532 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Amazon.com by 3.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after buying an additional 1,984,592 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

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.