Amazon.com’s (AMZN) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $250.00 price objective on the e-commerce giant’s stock.

Other research analysts have also recently issued reports about the stock. JMP Securities boosted their target price on shares of Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Morgan Stanley boosted their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Oppenheimer raised their target price on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Piper Sandler boosted their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Scotiabank raised their price objective on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average price target of $237.42.

Amazon.com Trading Down 0.5 %

Shares of AMZN stock opened at $225.04 on Tuesday. 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 has a fifty-two week low of $143.64 and a fifty-two week high of $230.08. The firm’s 50 day moving average price is $198.19 and its two-hundred day moving average price is $188.47. The stock has a market cap of $2.37 trillion, a price-to-earnings ratio of 48.19, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for 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 firm’s quarterly revenue 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. On average, analysts anticipate that Amazon.com will post 5.29 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the sale, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. This represents a 1.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,030,183 shares of company stock worth $1,252,883,795 in the last 90 days. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of hedge funds and other institutional investors have recently modified their holdings of AMZN. Semus Wealth Partners LLC increased its holdings in Amazon.com by 0.3% in the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after purchasing an additional 49 shares during the period. Bell Investment Advisors Inc boosted its holdings in Amazon.com by 1.5% in the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock valued at $626,000 after acquiring an additional 51 shares during the last quarter. Meridian Investment Counsel Inc. increased its position in Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after purchasing an additional 55 shares during the period. O Connor Financial Group LLC lifted its position in shares of Amazon.com by 2.2% in the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after purchasing an additional 55 shares during the period. Finally, Cherrydale Wealth Management LLC boosted its stake in shares of Amazon.com by 0.7% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after purchasing an additional 55 shares during the last quarter. 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.