Amazon.com (NASDAQ:AMZN) had its price target upped by stock analysts at Morgan Stanley from $230.00 to $280.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the e-commerce giant’s stock. Morgan Stanley’s target price would suggest a potential upside of 28.58% from the stock’s previous close.
Several other equities analysts also recently commented on AMZN. Redburn Atlantic increased their price objective 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. DA Davidson reiterated a “buy” rating and set a $235.00 price target on shares of Amazon.com in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their price objective on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Piper Sandler upped their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Oppenheimer increased their target price on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $245.65.
Read Our Latest Stock Report on AMZN
Amazon.com Stock Performance
Amazon.com (NASDAQ:AMZN – Get Free Report) last announced 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. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS. Research analysts anticipate that Amazon.com will post 5.29 earnings per share for the current year.
Insider Transactions at Amazon.com
In related news, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the sale, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 in the last 90 days. Insiders own 10.80% of the company’s stock.
Hedge Funds Weigh In On Amazon.com
Several institutional investors and hedge funds have recently modified their holdings of AMZN. Mason & Associates Inc grew its holdings in Amazon.com by 7.5% in the fourth quarter. Mason & Associates Inc now owns 15,047 shares of the e-commerce giant’s stock valued at $3,301,000 after purchasing an additional 1,044 shares during the period. Paragon Capital Management Ltd purchased a new position in shares of Amazon.com during the 4th quarter valued at approximately $333,000. MPS Loria Financial Planners LLC grew its stake in Amazon.com by 2.4% in the 4th quarter. MPS Loria Financial Planners LLC now owns 11,171 shares of the e-commerce giant’s stock valued at $2,451,000 after acquiring an additional 265 shares during the period. Heritage Family Offices LLP purchased a new stake in Amazon.com in the 4th quarter worth $354,000. Finally, Financial Enhancement Group LLC raised its position in Amazon.com by 40.7% during the fourth quarter. Financial Enhancement Group LLC now owns 2,558 shares of the e-commerce giant’s stock worth $559,000 after acquiring an additional 740 shares during the period. Hedge funds and other 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.
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