Amazon.com (NASDAQ:AMZN) Stock Price Expected to Rise, Scotiabank Analyst Says

Amazon.com (NASDAQ:AMZN) had its price objective lifted by Scotiabank from $246.00 to $306.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the e-commerce giant’s stock. Scotiabank’s price target suggests a potential upside of 30.30% from the company’s current price.

Several other research analysts have also weighed in on AMZN. Oppenheimer boosted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Raymond James raised their price objective on Amazon.com from $230.00 to $260.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Sanford C. Bernstein boosted their target price on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Stifel Nicolaus raised their price target on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Truist Financial upped their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.02.

Amazon.com Stock Performance

AMZN opened at $234.85 on Friday. The business’s 50-day simple moving average is $220.27 and its 200 day simple moving average is $197.47. Amazon.com has a 52-week low of $151.61 and a 52-week high of $236.40. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The firm has a market capitalization of $2.47 trillion, a PE ratio of 50.29, a PEG ratio of 1.31 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data 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. The company had revenue of $158.88 billion during 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 firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. As a group, sell-side analysts expect that Amazon.com will post 5.39 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the sale, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the completion of the transaction, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at $110,159,070. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. Insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Institutional investors have recently modified their holdings of the business. State Street Corp increased its stake in shares of Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after buying an additional 11,370,309 shares during the period. Geode Capital Management LLC boosted its holdings in 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 last quarter. Legal & General Group Plc increased its position in Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after purchasing an additional 1,042,177 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Amazon.com by 3.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after purchasing an additional 1,984,592 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Amazon.com by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after purchasing an additional 1,980,663 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.