Barclays Increases Amazon.com (NASDAQ:AMZN) Price Target to $3,530.00

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Amazon.com (NASDAQ:AMZN) had its price target raised by stock analysts at Barclays from $3,430.00 to $3,530.00 in a note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has an “overweight” rating on the e-commerce giant’s stock. Barclays‘s price objective indicates a potential upside of 11.54% from the stock’s current price.

Several other brokerages have also issued reports on AMZN. Monness Crespi & Hardt upgraded Amazon.com to a “buy” rating in a research report on Tuesday, July 7th. Needham & Company LLC started coverage on Amazon.com in a research report on Wednesday, June 24th. They set a “buy” rating and a $3,200.00 target price for the company. Tigress Financial restated a “buy” rating on shares of Amazon.com in a research report on Wednesday, April 8th. Benchmark boosted their target price on Amazon.com from $2,450.00 to $2,650.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Rowe boosted their target price on Amazon.com from $2,500.00 to $3,000.00 and gave the company a “positive” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $3,240.51.

Shares of NASDAQ AMZN opened at $3,164.68 on Friday. The business’s 50 day moving average is $2,884.55 and its two-hundred day moving average is $2,314.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.08 and a quick ratio of 0.84. Amazon.com has a 1-year low of $1,626.03 and a 1-year high of $3,344.29. The stock has a market capitalization of $1,578.47 billion, a P/E ratio of 121.67, a PEG ratio of 5.83 and a beta of 1.32.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $10.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $8.56. Amazon.com had a return on equity of 21.51% and a net margin of 4.10%. The company had revenue of $88.91 billion for the quarter, compared to analysts’ expectations of $81.56 billion. As a group, equities research analysts anticipate that Amazon.com will post 20.12 earnings per share for the current fiscal year.

In related news, CEO Andrew R. Jassy sold 6,945 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $2,256.50, for a total value of $15,671,392.50. Following the transaction, the chief executive officer now directly owns 93,105 shares of the company’s stock, valued at approximately $210,091,432.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Patricia Q. Stonesifer sold 2,200 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $2,329.44, for a total value of $5,124,768.00. Following the completion of the transaction, the director now directly owns 4,645 shares in the company, valued at $10,820,248.80. The disclosure for this sale can be found here. Corporate insiders own 16.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legacy Advisors LLC increased its position in shares of Amazon.com by 23.3% in the 2nd quarter. Legacy Advisors LLC now owns 1,038 shares of the e-commerce giant’s stock valued at $2,864,000 after acquiring an additional 196 shares during the period. Boston Trust Walden Corp boosted its holdings in Amazon.com by 87.0% in the first quarter. Boston Trust Walden Corp now owns 1,997 shares of the e-commerce giant’s stock valued at $3,894,000 after purchasing an additional 929 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Amazon.com by 7.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 68,348 shares of the e-commerce giant’s stock valued at $133,260,000 after purchasing an additional 4,521 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in Amazon.com by 6.6% in the first quarter. IHT Wealth Management LLC now owns 6,500 shares of the e-commerce giant’s stock valued at $12,673,000 after purchasing an additional 405 shares during the last quarter. Finally, RDA Financial Network boosted its holdings in Amazon.com by 4.7% in the first quarter. RDA Financial Network now owns 877 shares of the e-commerce giant’s stock valued at $1,710,000 after purchasing an additional 39 shares during the last quarter. 64.54% of the stock is currently owned by hedge funds and other institutional investors.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

See Also: Return on Equity (ROE)

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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