Amazon.com (NASDAQ:AMZN) Price Target Raised to $240.00

Amazon.com (NASDAQ:AMZN) had its price target raised by Evercore ISI from $225.00 to $240.00 in a report issued on Friday morning, Benzinga reports. The firm currently has an outperform rating on the e-commerce giant’s stock.

Other research analysts have also recently issued reports about the company. JMP Securities increased their price target on Amazon.com from $245.00 to $265.00 and gave the company a market outperform rating in a research report on Tuesday, September 3rd. Itau BBA Securities cut Amazon.com from an outperform rating to a market perform rating and set a $186.00 price target for the company. in a research report on Friday, August 2nd. Morgan Stanley reduced their price target on Amazon.com from $240.00 to $210.00 and set an overweight rating for the company in a research report on Tuesday, August 6th. TD Cowen increased their price target on Amazon.com from $225.00 to $245.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Finally, Wedbush reissued an outperform rating and set a $225.00 price target on shares of Amazon.com in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $222.84.

Amazon.com Stock Up 1.2 %

Shares of Amazon.com stock opened at $193.88 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The company has a market capitalization of $2.02 trillion, a P/E ratio of 54.31, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. Amazon.com has a 1 year low of $118.35 and a 1 year high of $201.20. The business has a 50-day moving average of $178.57 and a two-hundred day moving average of $182.22.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. As a group, equities analysts predict that Amazon.com will post 4.86 EPS for the current year.

Insiders Place Their Bets

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Amazon.com in the 4th quarter valued at about $17,700,551,000. Vanguard Group Inc. increased its position in Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after buying an additional 14,724,687 shares in the last quarter. Swedbank AB bought a new stake in Amazon.com in the 1st quarter valued at about $2,239,757,000. Capital World Investors increased its position in Amazon.com by 64.6% in the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after buying an additional 11,524,463 shares in the last quarter. Finally, Capital Research Global Investors increased its position 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 valued at $15,689,968,000 after buying an additional 6,810,145 shares in the last quarter. 72.20% of the stock is 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.