Amazon.com (NASDAQ:AMZN) Price Target Raised to $250.00

Amazon.com (NASDAQ:AMZN) had its price target lifted by Needham & Company LLC from $210.00 to $250.00 in a research note published on Thursday, MarketBeat reports. Needham & Company LLC currently has a buy rating on the e-commerce giant’s stock.

Several other research firms also recently issued reports on AMZN. JPMorgan Chase & Co. lifted their price objective on Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Stifel Nicolaus upped their price target on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Bank of America raised their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Scotiabank boosted their price target on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Finally, Oppenheimer boosted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $235.45.

Amazon.com Price Performance

Shares of AMZN stock opened at $202.61 on Thursday. The firm has a fifty day simple moving average of $191.16 and a 200-day simple moving average of $185.69. The company has a market capitalization of $2.13 trillion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. Amazon.com has a twelve month low of $139.52 and a twelve month high of $215.90. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the prior year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Amazon.com will post 5.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $8,820,000. This represents a 22.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the sale, the insider now directly owns 914,420,614 shares of the company’s stock, valued at approximately $189,056,461,944.50. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,053,349 shares of company stock valued at $1,256,503,289 over the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Several hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. increased its stake in Amazon.com by 31.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock valued at $32,894,000 after acquiring an additional 43,759 shares during the period. Drexel Morgan & Co. acquired a new position in shares of Amazon.com in the first quarter valued at $203,000. TFC Financial Management Inc. raised its stake in shares of Amazon.com by 9.5% in the first quarter. TFC Financial Management Inc. now owns 12,050 shares of the e-commerce giant’s stock valued at $2,174,000 after purchasing an additional 1,046 shares in the last quarter. Retirement Systems of Alabama lifted its position in Amazon.com by 0.4% in the first quarter. Retirement Systems of Alabama now owns 3,797,262 shares of the e-commerce giant’s stock worth $684,950,000 after purchasing an additional 13,302 shares during the period. Finally, Cutter & CO Brokerage Inc. boosted its position in shares of Amazon.com by 1.0% during the 1st quarter. Cutter & CO Brokerage Inc. now owns 23,971 shares of the e-commerce giant’s stock valued at $4,324,000 after acquiring an additional 226 shares in the last quarter. 72.20% of the stock is owned by 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.