Amazon.com (NASDAQ:AMZN) Earns “Outperform” Rating from Wedbush

Amazon.com (NASDAQ:AMZN)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report released on Monday,RTT News reports. They presently have a $280.00 price objective on the e-commerce giant’s stock, up from their previous price objective of $260.00. Wedbush’s price objective would suggest a potential upside of 20.65% from the company’s current price.

A number of other equities analysts also recently commented on AMZN. Piper Sandler boosted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Monness Crespi & Hardt lifted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Telsey Advisory Group lifted their price target on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wolfe Research lifted their price target on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, DA Davidson reaffirmed a “buy” rating and set a $235.00 price target on shares of Amazon.com in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.46.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN traded down $2.77 during trading on Monday, hitting $232.08. The stock had a trading volume of 12,463,872 shares, compared to its average volume of 29,514,328. The stock has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 49.49, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14. The stock has a 50-day simple moving average of $220.27 and a two-hundred day simple moving average of $197.44. Amazon.com has a 12-month low of $151.61 and a 12-month high of $236.40. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. On average, equities research analysts expect that Amazon.com will post 5.39 earnings per share for the current fiscal year.

Insider Activity

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the sale, the chief executive officer now owns 518,911 shares in the company, valued at $106,797,072.91. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after acquiring an additional 11,370,309 shares during the period. Geode Capital Management LLC raised its position in shares of Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after buying an additional 6,545,944 shares in the last quarter. Legal & General Group Plc grew its position 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Amazon.com by 3.6% in the 3rd 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 valued at $10,776,201,000 after acquiring an additional 1,984,592 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Amazon.com by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock worth $10,678,217,000 after purchasing an additional 1,980,663 shares during the period. 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.