Raymond James Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its target price upped by Raymond James from $230.00 to $260.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a strong-buy rating on the e-commerce giant’s stock.

Several other brokerages have also issued reports on AMZN. Scotiabank raised their target price on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 price objective on shares of Amazon.com in a research report on Monday, October 7th. Benchmark increased their target price on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Monness Crespi & Hardt lifted their price target on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada increased their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $246.85.

Amazon.com Stock Up 2.1 %

AMZN opened at $230.71 on Tuesday. Amazon.com has a fifty-two week low of $151.61 and a fifty-two week high of $233.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The company’s 50-day moving average is $218.30 and its 200 day moving average is $196.47. The firm has a market capitalization of $2.43 trillion, a P/E ratio of 49.40, a PEG ratio of 1.26 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 EPS. Research analysts expect that Amazon.com will post 5.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Monday, November 11th. The shares were sold at an average price of $206.75, for a total value of $619,497,843.50. Following the transaction, the insider now owns 914,420,614 shares in the company, valued at $189,056,461,944.50. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock worth $1,253,456,822 in the last quarter. 10.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its holdings in shares of Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after purchasing an additional 38,949,065 shares during the last quarter. Parnassus Investments LLC boosted its position in Amazon.com by 82,457.3% during the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after buying an additional 11,391,479 shares during the period. State Street Corp grew its holdings in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after acquiring an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after acquiring an additional 6,545,944 shares during the period. Finally, Strategic Financial Concepts LLC raised its stake in shares of Amazon.com by 13,606.7% during the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after acquiring an additional 3,903,889 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.