Amazon.com (NASDAQ:AMZN) Hits New 12-Month High Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) reached a new 52-week high during trading on Wednesday after Raymond James raised their price target on the stock from $230.00 to $260.00. Raymond James currently has a strong-buy rating on the stock. Amazon.com traded as high as $235.44 and last traded at $235.02, with a volume of 10857036 shares changing hands. The stock had previously closed at $230.71.

Other research analysts also recently issued reports about the stock. Moffett Nathanson raised their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Mizuho lifted their target price on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Monness Crespi & Hardt lifted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Maxim Group lifted their target price on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Morgan Stanley lifted their target price on shares of Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Two analysts have 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $247.72.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is owned by insiders.

Institutional Trading of Amazon.com

Hedge funds have recently bought and sold shares of the company. PayPay Securities Corp lifted its stake in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com in the third quarter worth approximately $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the third quarter worth approximately $45,000. Values First Advisors Inc. purchased a new stake in shares of Amazon.com in the third quarter worth approximately $56,000. Finally, IFS Advisors LLC lifted its position in shares of Amazon.com by 1,625.0% in the fourth quarter. IFS Advisors LLC now owns 345 shares of the e-commerce giant’s stock worth $76,000 after purchasing an additional 325 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Up 1.9 %

The business’s 50-day moving average price is $218.73 and its 200-day moving average price is $196.68. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.47 trillion, a PE ratio of 50.32, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS 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 company posted $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities research analysts predict that Amazon.com, Inc. will post 5.39 EPS for the current fiscal year.

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.