Wolfe Research Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective upped by Wolfe Research from $250.00 to $270.00 in a research report report published on Friday, MarketBeat Ratings reports. They currently have an outperform rating on the e-commerce giant’s stock.

Several other brokerages have also recently weighed in on AMZN. JMP Securities reaffirmed a “market outperform” rating and set a $285.00 price objective on shares of Amazon.com in a research note on Monday, December 16th. Jefferies Financial Group upped their price objective on shares of Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Piper Sandler upped their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Truist Financial upped their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Tigress Financial upped their target price on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.44.

Amazon.com Stock Performance

NASDAQ AMZN opened at $224.19 on Friday. The stock has a market cap of $2.36 trillion, a P/E ratio of 48.01, a PEG ratio of 1.54 and a beta of 1.16. The company’s 50-day simple moving average is $212.34 and its 200 day simple moving average is $193.77. Amazon.com has a twelve month low of $144.05 and a twelve month high of $233.00. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. As a group, research analysts forecast that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the completion of the transaction, the insider now directly owns 914,420,614 shares of the company’s stock, valued at approximately $189,056,461,944.50. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. jvl associates llc grew its position in shares of Amazon.com by 1.8% in the 4th quarter. jvl associates llc now owns 3,958 shares of the e-commerce giant’s stock valued at $868,000 after acquiring an additional 70 shares during the period. Integrated Capital Management LLC grew its position in shares of Amazon.com by 1.0% in the 4th quarter. Integrated Capital Management LLC now owns 6,116 shares of the e-commerce giant’s stock valued at $1,342,000 after acquiring an additional 58 shares during the period. First Citizens Financial Corp lifted its stake in shares of Amazon.com by 32.4% during the 4th quarter. First Citizens Financial Corp now owns 2,076 shares of the e-commerce giant’s stock worth $455,000 after buying an additional 508 shares during the last quarter. Everence Capital Management Inc. lifted its stake in shares of Amazon.com by 0.8% during the 4th quarter. Everence Capital Management Inc. now owns 176,370 shares of the e-commerce giant’s stock worth $38,694,000 after buying an additional 1,370 shares during the last quarter. Finally, NRI Wealth Management LC acquired a new stake in shares of Amazon.com during the 4th quarter worth about $5,990,000. Institutional investors own 72.20% of the company’s stock.

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.