Truist Financial Raises Amazon.com (NASDAQ:AMZN) Price Target to $230.00

Amazon.com (NASDAQ:AMZN) had its price target raised by Truist Financial from $220.00 to $230.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

AMZN has been the topic of several other research reports. Loop Capital increased their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company a buy rating in a report on Monday, May 6th. Oppenheimer raised their price objective on Amazon.com from $210.00 to $220.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. Piper Sandler boosted their target price on Amazon.com from $205.00 to $220.00 and gave the company an overweight rating in a research note on Wednesday, May 1st. Wedbush restated an outperform rating and set a $225.00 price target on shares of Amazon.com in a research report on Wednesday, May 1st. Finally, Wolfe Research assumed coverage on Amazon.com in a research report on Tuesday, July 16th. They issued an outperform rating and a $250.00 price objective for the company. One analyst has rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com has a consensus rating of Buy and an average price target of $219.82.

Amazon.com Price Performance

AMZN stock opened at $180.83 on Monday. The firm has a 50 day simple moving average of $187.39 and a two-hundred day simple moving average of $178.37. The stock has a market cap of $1.88 trillion, a PE ratio of 50.65, a P/E/G ratio of 1.31 and a beta of 1.15. Amazon.com has a one year low of $118.35 and a one year high of $201.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The company had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. During the same period in the previous year, the firm posted $0.31 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. On average, analysts predict that Amazon.com will post 4.72 EPS for the current fiscal year.

Insider Activity

In other news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the completion of the transaction, the chief executive officer now directly owns 2,025,358 shares of the company’s stock, valued at $367,480,955.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total value of $3,771,048.96. Following the transaction, the chief executive officer now owns 2,025,358 shares of the company’s stock, valued at $367,480,955.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Shelley Reynolds sold 2,700 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $181.39, for a total value of $489,753.00. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $21,726,894.20. The disclosure for this sale can be found here. Insiders have sold a total of 6,112,990 shares of company stock valued at $1,222,250,048 in the last 90 days. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

A number of institutional investors have recently bought and sold shares of AMZN. Vanguard Group Inc. boosted its position in shares of Amazon.com by 1.9% in the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the period. Norges Bank bought a new position in Amazon.com in the 4th quarter worth $17,700,551,000. Capital Research Global Investors increased its stake in Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares in the last quarter. Jennison Associates LLC raised its holdings in Amazon.com by 0.5% during the first quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after acquiring an additional 295,132 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Amazon.com by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 51,920,953 shares of the e-commerce giant’s stock valued at $7,888,870,000 after acquiring an additional 1,525,922 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

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.