Morgan Stanley Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its price objective hoisted by equities researchers at Morgan Stanley from $210.00 to $230.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the e-commerce giant’s stock. Morgan Stanley’s price target indicates a potential upside of 15.29% from the company’s current price.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group upped their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen upped their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Pivotal Research initiated coverage on Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 price objective on the stock. JMP Securities upped their price objective on Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Finally, Robert W. Baird upped their price objective on Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $246.48.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $199.50 on Monday. The business’s 50 day moving average price is $185.75 and its 200 day moving average price is $184.07. The firm has a market cap of $2.09 trillion, a P/E ratio of 42.72, a P/E/G ratio of 1.46 and a beta of 1.14. Amazon.com has a 52 week low of $138.36 and a 52 week high of $201.20. 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 issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. On average, sell-side analysts expect that Amazon.com will post 4.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on 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 directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,859 shares of company stock valued at $10,215,097 in the last three months. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently bought and sold shares of AMZN. Deltec Asset Management LLC boosted its holdings in Amazon.com by 8.5% during the 1st quarter. Deltec Asset Management LLC now owns 195,695 shares of the e-commerce giant’s stock valued at $35,299,000 after acquiring an additional 15,253 shares during the period. Strata Wealth Advisors LLC boosted its stake in shares of Amazon.com by 5.7% in the 1st quarter. Strata Wealth Advisors LLC now owns 4,899 shares of the e-commerce giant’s stock valued at $884,000 after buying an additional 264 shares during the period. Chatham Capital Group Inc. boosted its stake in shares of Amazon.com by 5.5% in the 1st quarter. Chatham Capital Group Inc. now owns 5,699 shares of the e-commerce giant’s stock valued at $1,028,000 after buying an additional 298 shares during the period. WJ Wealth Management LLC boosted its stake in shares of Amazon.com by 2.7% in the 1st quarter. WJ Wealth Management LLC now owns 20,002 shares of the e-commerce giant’s stock valued at $3,608,000 after buying an additional 534 shares during the period. Finally, Blue Zone Wealth Advisors LLC boosted its stake in shares of Amazon.com by 0.6% in the 1st quarter. Blue Zone Wealth Advisors LLC now owns 30,456 shares of the e-commerce giant’s stock valued at $5,494,000 after buying an additional 170 shares during the period. 72.20% of the stock is currently 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.