Morgan Stanley Boosts Amazon.com (NASDAQ:AMZN) Price Target to $240.00

Amazon.com (NASDAQ:AMZN) had its price objective increased by Morgan Stanley from $220.00 to $240.00 in a research note published on Tuesday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the e-commerce giant’s stock.

AMZN has been the subject of a number of other research reports. Truist Financial boosted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock a buy rating in a research note on Monday. TD Cowen 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 Wednesday, July 10th. Oppenheimer boosted their price target on shares of Amazon.com from $210.00 to $220.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. The Goldman Sachs Group boosted their price target on shares of Amazon.com from $225.00 to $250.00 and gave the company a buy rating in a research report on Tuesday, July 16th. Finally, Citigroup boosted their price target on shares of Amazon.com from $235.00 to $245.00 and gave the company a buy rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com has a consensus rating of Buy and an average price target of $220.04.

Amazon.com Price Performance

Shares of AMZN opened at $179.85 on Tuesday. 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 firm’s fifty day simple moving average is $187.32 and its 200-day simple moving average is $178.38. The firm has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 50.38, a PEG ratio of 1.33 and a beta of 1.15. Amazon.com has a twelve month low of $118.35 and a twelve month high of $201.20.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. The firm 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%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Equities analysts forecast that Amazon.com will post 4.73 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 266,396 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $200.01, for a total value of $53,281,863.96. Following the transaction, the insider now directly owns 928,433,873 shares in the company, valued at approximately $185,696,058,938.73. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jeffrey P. Bezos sold 266,396 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $200.01, for a total value of $53,281,863.96. Following the transaction, the insider now directly owns 928,433,873 shares in the company, valued at approximately $185,696,058,938.73. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Shelley Reynolds sold 2,700 shares of Amazon.com stock in a transaction dated 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 owns 119,780 shares in the company, valued at $21,726,894.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,112,990 shares of company stock worth $1,222,250,048. 10.80% of the stock is currently owned by insiders.

Institutional Trading of Amazon.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after buying an additional 14,724,687 shares in the last quarter. Norges Bank bought a new stake in shares of Amazon.com during the 4th quarter worth about $17,700,551,000. Capital Research Global Investors raised its position in shares of Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares in the last quarter. Jennison Associates LLC raised its position in shares of Amazon.com by 0.5% during the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after buying an additional 295,132 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Amazon.com by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,920,953 shares of the e-commerce giant’s stock worth $7,888,870,000 after buying an additional 1,525,922 shares in the last quarter. 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.