Amazon.com (NASDAQ:AMZN) Price Target Raised to $245.00

Amazon.com (NASDAQ:AMZN) had its price objective raised by TD Cowen from $225.00 to $245.00 in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a buy rating on the e-commerce giant’s stock.

AMZN has been the topic of a number of other research reports. JMP Securities restated a market outperform rating and issued a $225.00 price target on shares of Amazon.com in a research note on Wednesday, May 1st. Truist Financial increased their price objective on shares of Amazon.com from $216.00 to $220.00 and gave the company a buy rating in a research report on Wednesday, May 1st. BMO Capital Markets lifted their target price on shares of Amazon.com from $215.00 to $220.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. Jefferies Financial Group raised their price objective on shares of Amazon.com from $225.00 to $235.00 in a research report on Tuesday. Finally, Needham & Company LLC restated a buy rating and set a $205.00 price objective on shares of Amazon.com in a report on Tuesday. One research analyst has rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com currently has an average rating of Buy and a consensus target price of $217.38.

Amazon.com Stock Performance

Shares of AMZN stock opened at $194.49 on Wednesday. The company has a fifty day moving average price of $187.63 and a two-hundred day moving average price of $176.17. Amazon.com has a one year low of $118.35 and a one year high of $201.20. The stock has a market cap of $2.02 trillion, a P/E ratio of 54.48, a P/E/G ratio of 1.43 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.15. The business had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. Amazon.com’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. As a group, equities analysts predict that Amazon.com will post 4.72 EPS for the current year.

Insiders Place Their Bets

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total value of $90,690.00. Following the transaction, the chief executive officer now owns 130,600 shares in the company, valued at $23,688,228. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Shelley Reynolds sold 2,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $181.39, for a total value of $489,753.00. Following the completion of the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at $21,726,894.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total value of $90,690.00. Following the sale, the chief executive officer now owns 130,600 shares in the company, valued at $23,688,228. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,113,490 shares of company stock worth $1,222,340,738. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds have recently made changes to their positions in AMZN. Cooksen Wealth LLC purchased a new position in Amazon.com in the fourth quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Amazon.com by 45.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 86 shares during the last quarter. Strid Group LLC bought a new position in Amazon.com during the fourth quarter worth about $43,000. Harbor Investment Advisory LLC raised its position in shares of Amazon.com by 0.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after purchasing an additional 1,988 shares during the period. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Amazon.com during the 4th quarter valued at approximately $46,000. 72.20% of the stock is currently owned by institutional investors.

About Amazon.com

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.