Amazon.com (NASDAQ:AMZN) Price Target Raised to $240.00 at Evercore ISI

Amazon.com (NASDAQ:AMZN) had its price target upped by equities research analysts at Evercore ISI from $225.00 to $240.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the e-commerce giant’s stock. Evercore ISI’s price objective points to a potential upside of 26.40% from the stock’s current price.

AMZN has been the topic of several other research reports. Barclays raised their price target on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Truist Financial raised their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Robert W. Baird boosted their price target on shares of Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Amazon.com in a research note on Thursday, September 12th. Finally, Morgan Stanley lowered their target price on shares of Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. One research analyst has rated the stock with a hold rating, forty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $222.84.

Amazon.com Price Performance

Shares of AMZN stock opened at $189.87 on Friday. Amazon.com has a 1 year low of $118.35 and a 1 year high of $201.20. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $178.60 and its 200-day moving average is $181.88. The firm has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 53.18, a PEG ratio of 1.39 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Sell-side analysts forecast that Amazon.com will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The disclosure for this sale can be found here. Insiders sold a total of 6,104,317 shares of company stock worth $1,220,621,322 over the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMZN. Cooksen Wealth LLC bought a new position in shares of Amazon.com in the fourth quarter valued at about $30,000. PayPay Securities Corp raised its holdings in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares during the period. Clarity Asset Management Inc. acquired a new stake in Amazon.com during the fourth quarter worth approximately $46,000. Christopher J. Hasenberg Inc boosted its holdings in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares during the period. Finally, Steph & Co. acquired a new position in shares of Amazon.com in the first quarter valued at approximately $65,000. 72.20% of the stock is owned by institutional investors and hedge funds.

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.