Amazon.com (NASDAQ:AMZN) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research note published on Monday morning, Benzinga reports. The firm currently has a $205.00 target price on the e-commerce giant’s stock.

AMZN has been the subject of several other research reports. Mizuho increased their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company a buy rating in a report on Wednesday, May 1st. BMO Capital Markets increased their target price on shares of Amazon.com from $215.00 to $220.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Wells Fargo & Company increased their target price on shares of Amazon.com from $234.00 to $239.00 and gave the company an overweight rating in a report on Friday, June 28th. Oppenheimer increased their target price on shares of Amazon.com from $210.00 to $220.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Finally, Wedbush reiterated an outperform rating and issued a $225.00 target price on shares of Amazon.com in a report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $215.86.

Amazon.com Stock Performance

AMZN opened at $197.59 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. The company’s fifty day moving average price is $184.68 and its two-hundred day moving average price is $173.98. Amazon.com has a 1-year low of $118.35 and a 1-year high of $200.43. The company has a market cap of $2.06 trillion, a price-to-earnings ratio of 55.35, a PEG ratio of 1.38 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The firm had revenue of $143.31 billion for the quarter, compared to the consensus estimate of $142.65 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. On average, analysts expect that Amazon.com will post 4.72 EPS for the current fiscal year.

Insider Activity

In related news, VP Shelley Reynolds sold 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $181.39, for a total value of $489,753.00. Following the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $21,726,894.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $195.99, for a total value of $685,965.00. Following the sale, the chief executive officer now directly owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $181.39, for a total transaction of $489,753.00. Following the completion of the sale, the vice president now directly owns 119,780 shares in the company, valued at $21,726,894.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,548 shares of company stock worth $12,774,204. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. First International Bank & Trust raised its stake in shares of Amazon.com by 18.2% during the second quarter. First International Bank & Trust now owns 4,316 shares of the e-commerce giant’s stock worth $834,000 after acquiring an additional 666 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its stake in shares of Amazon.com by 3.9% during the second quarter. Beese Fulmer Investment Management Inc. now owns 173,737 shares of the e-commerce giant’s stock worth $33,575,000 after acquiring an additional 6,457 shares in the last quarter. Moody National Bank Trust Division raised its stake in shares of Amazon.com by 5.9% during the second quarter. Moody National Bank Trust Division now owns 97,396 shares of the e-commerce giant’s stock worth $18,822,000 after acquiring an additional 5,454 shares in the last quarter. Hilltop Wealth Advisors LLC purchased a new position in shares of Amazon.com during the second quarter worth approximately $309,000. Finally, A.P. Gilfoyle & Co. L.P. raised its stake in shares of Amazon.com by 8.3% during the second quarter. A.P. Gilfoyle & Co. L.P. now owns 1,700 shares of the e-commerce giant’s stock worth $340,000 after acquiring an additional 131 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.