Raymond James Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its target price increased by Raymond James from $260.00 to $275.00 in a research report sent to investors on Monday,BayStreet.CA reports.

A number of other research firms also recently commented on AMZN. Evercore ISI boosted their price objective on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Sanford C. Bernstein boosted their target price on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Redburn Atlantic boosted their target price on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Susquehanna boosted their target price on Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, HSBC boosted their target price on Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $260.74.

Amazon.com Stock Down 1.6 %

Shares of Amazon.com stock opened at $228.93 on Monday. The business’s fifty day moving average price is $227.77 and its two-hundred day moving average price is $201.59. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The company has a market capitalization of $2.43 trillion, a P/E ratio of 41.40, a PEG ratio of 1.36 and a beta of 1.15. Amazon.com has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 25.49% and a net margin of 9.29%. As a group, research analysts forecast that Amazon.com will post 6.24 EPS for the current year.

Insider Activity

In related news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the sale, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the transaction, the chief executive officer now owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,850 shares of company stock valued at $6,168,581 in the last 90 days. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Several hedge funds have recently modified their holdings of the stock. Accordant Advisory Group Inc grew its holdings in Amazon.com by 400.0% during the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares during the period. Prudent Man Investment Management Inc. bought a new position in Amazon.com during the fourth quarter worth about $27,000. Icon Wealth Advisors LLC grew its holdings in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the period. Hoese & Co LLP bought a new position in Amazon.com during the third quarter worth about $37,000. Finally, Perritt Capital Management Inc grew its holdings in Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 80 shares during the period. Institutional investors 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.