Amazon.com (NASDAQ:AMZN) Price Target Increased to $240.00 by Analysts at Morgan Stanley

Amazon.com (NASDAQ:AMZN) had its price target lifted by Morgan Stanley from $220.00 to $240.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an overweight rating on the e-commerce giant’s stock.

A number of other analysts have also recently commented on AMZN. Monness Crespi & Hardt upped their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Telsey Advisory Group upped their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Raymond James upped their price objective on shares of Amazon.com from $200.00 to $205.00 and gave the company a strong-buy rating in a research report on Wednesday, May 1st. Stifel Nicolaus upped their price objective on shares of Amazon.com from $224.00 to $228.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Finally, Jefferies Financial Group increased their target price on Amazon.com from $225.00 to $235.00 in a report on Tuesday, July 9th. One analyst has rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $220.04.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $179.85 on Tuesday. The firm has a fifty day moving average of $187.32 and a two-hundred day moving average of $178.38. The stock has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 50.38, a PEG ratio of 1.33 and a beta of 1.15. Amazon.com has a 52 week low of $118.35 and a 52 week high of $201.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, beating the consensus estimate of $0.83 by $0.15. The company had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. As a group, equities research analysts predict that Amazon.com will post 4.73 EPS for the current year.

Insiders Place Their Bets

In other Amazon.com news, Director Keith Brian Alexander sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.22, for a total transaction of $186,220.00. Following the completion of the sale, the director now directly owns 4,760 shares in the company, valued at $886,407.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Keith Brian Alexander sold 1,000 shares of Amazon.com stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.22, for a total value of $186,220.00. Following the completion of the sale, the director now directly owns 4,760 shares in the company, valued at $886,407.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $180.29, for a total transaction of $631,015.00. Following the completion of the sale, the chief executive officer now owns 509,358 shares of the company’s stock, valued at $91,832,153.82. The disclosure for this sale can be found here. Insiders sold 6,112,990 shares of company stock worth $1,222,250,048 over the last three months. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Garrison Point Advisors LLC raised its position in shares of Amazon.com by 0.3% in the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after buying an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. raised its position in Amazon.com by 1.8% during the second 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 in the last quarter. Ridgecrest Wealth Partners LLC raised its position in Amazon.com by 0.7% during the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after purchasing an additional 56 shares in the last quarter. Stordahl Capital Management Inc. raised its position in Amazon.com by 2.1% during the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after purchasing an additional 56 shares in the last quarter. Finally, Lutz Financial Services LLC raised its position in Amazon.com by 1.9% during the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after purchasing an additional 57 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.