Citigroup Raises Amazon.com (NASDAQ:AMZN) Price Target to $235.00

Amazon.com (NASDAQ:AMZN) had its price target increased by Citigroup from $215.00 to $235.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the e-commerce giant’s stock.

A number of other analysts also recently commented on the company. Robert W. Baird upped their price objective on Amazon.com from $185.00 to $205.00 and gave the stock an outperform rating in a report on Friday, February 2nd. Truist Financial upped their price objective on Amazon.com from $195.00 to $216.00 and gave the stock a buy rating in a report on Wednesday, April 17th. BMO Capital Markets upped their price objective on Amazon.com from $205.00 to $215.00 and gave the stock an outperform rating in a report on Tuesday. Piper Sandler upped their price objective on Amazon.com from $185.00 to $205.00 and gave the stock an overweight rating in a report on Friday, February 2nd. Finally, Raymond James upped their price objective on Amazon.com from $185.00 to $200.00 and gave the stock a strong-buy rating in a report on Friday, February 2nd. One analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com has a consensus rating of Buy and an average target price of $205.13.

Amazon.com Trading Up 3.4 %

Shares of Amazon.com stock opened at $179.62 on Wednesday. Amazon.com has a fifty-two week low of $101.15 and a fifty-two week high of $189.77. The firm has a market cap of $1.87 trillion, a PE ratio of 61.94, a P/E/G ratio of 1.53 and a beta of 1.16. The business’s fifty day moving average is $177.99 and its two-hundred day moving average is $158.59. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.19. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The company had revenue of $169.96 billion for the quarter, compared to analyst estimates of $165.96 billion. During the same quarter in the prior year, the company posted $0.21 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts anticipate that Amazon.com will post 4.1 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $181.38, for a total value of $90,690.00. Following the completion of the transaction, the chief executive officer now directly owns 130,600 shares in the company, valued at $23,688,228. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $180.73, for a total value of $632,555.00. Following the completion of the transaction, the chief executive officer now directly owns 512,858 shares in the company, valued at $92,688,826.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $181.38, for a total value of $90,690.00. Following the completion of the transaction, the chief executive officer now owns 130,600 shares of the company’s stock, valued at $23,688,228. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,214,010 shares of company stock worth $5,505,889,146. Corporate insiders own 10.30% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently bought and sold shares of AMZN. Norges Bank acquired a new position in Amazon.com in the fourth quarter valued at approximately $17,700,551,000. Vanguard Group Inc. boosted its stake in Amazon.com by 4.4% in the third quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock valued at $96,350,832,000 after acquiring an additional 32,038,029 shares during the period. International Assets Investment Management LLC boosted its stake in Amazon.com by 16,029.3% in the fourth quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock valued at $36,260,810,000 after acquiring an additional 23,717,254 shares during the period. FMR LLC raised its holdings in shares of Amazon.com by 7.7% during the third quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock valued at $38,403,135,000 after buying an additional 21,649,871 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Amazon.com by 28.4% during the third quarter. Jennison Associates LLC now owns 54,981,548 shares of the e-commerce giant’s stock valued at $6,989,254,000 after buying an additional 12,176,114 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.