Amazon.com (NASDAQ:AMZN) Price Target Raised to $280.00

Amazon.com (NASDAQ:AMZN) had its price target raised by JPMorgan Chase & Co. from $250.00 to $280.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the e-commerce giant’s stock.

Several other research analysts also recently issued reports on the company. Robert W. Baird upped their price objective on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Truist Financial upped their price target on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Redburn Atlantic raised their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. BMO Capital Markets restated an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a report on Tuesday, December 3rd. Finally, Benchmark raised their target price on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.00.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $224.92 on Wednesday. The company’s 50 day moving average price is $205.83 and its two-hundred day moving average price is $191.30. The firm has a market capitalization of $2.37 trillion, a P/E ratio of 48.16, a P/E/G ratio of 1.54 and a beta of 1.16. Amazon.com has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share 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 company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter last year, the business posted $0.85 EPS. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,034,534 shares of company stock valued at $1,253,883,872 over the last 90 days. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Large investors have recently made changes to their positions in the business. Icon Wealth Advisors LLC raised its position in Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after acquiring an additional 25,581 shares during the period. PayPay Securities Corp raised its holdings in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the period. Hoese & Co LLP purchased a new position in Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC bought a new position in Amazon.com during the third quarter valued at $45,000. Finally, Values First Advisors Inc. purchased a new stake in Amazon.com in the third quarter worth $56,000. 72.20% of the stock is owned by hedge funds and other 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.