Amazon.com (NASDAQ:AMZN) Stock Price Up 2.7% After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares were up 2.7% on Wednesday after Mizuho raised their price target on the stock from $240.00 to $260.00. Mizuho currently has an outperform rating on the stock. Amazon.com traded as high as $231.20 and last traded at $231.13. Approximately 10,484,028 shares were traded during trading, a decline of 75% from the average daily volume of 41,260,473 shares. The stock had previously closed at $225.04.

A number of other research firms also recently issued reports on AMZN. DA Davidson reaffirmed a “buy” rating and set a $235.00 price objective on shares of Amazon.com in a report on Thursday, October 10th. Telsey Advisory Group raised their price objective 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. Monness Crespi & Hardt boosted their price target on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Benchmark increased their target price on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $197.00 target price on shares of Amazon.com in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.42.

Insider Transactions at Amazon.com

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the completion of the sale, the chief executive officer now owns 524,567 shares in the company, valued at approximately $110,159,070. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,030,183 shares of company stock worth $1,252,883,795. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently bought and sold shares of AMZN. Icon Wealth Advisors LLC increased its position in shares of Amazon.com by 20.5% during the 3rd 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 last quarter. PayPay Securities Corp increased its holdings in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in Amazon.com during the third quarter worth $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the third quarter valued at $45,000. Finally, Values First Advisors Inc. bought a new position in shares of Amazon.com in the 3rd quarter valued at about $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Up 2.4 %

The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average price is $198.98 and its two-hundred day moving average price is $188.78. The company has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 49.49, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

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.