Bank of America Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective raised by Bank of America from $210.00 to $230.00 in a report released on Friday, Benzinga reports. Bank of America currently has a buy rating on the e-commerce giant’s stock.

AMZN has been the subject of a number of other research reports. Jefferies Financial Group decreased their target price on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Loop Capital raised their target price on shares of Amazon.com from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and issued a $200.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. Barclays raised their target price on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Wolfe Research initiated coverage on shares of Amazon.com in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 target price for the company. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $244.11.

Amazon.com Stock Up 6.2 %

Shares of NASDAQ:AMZN traded up $11.53 during midday trading on Friday, reaching $197.93. 99,687,847 shares of the company were exchanged, compared to its average volume of 41,329,359. Amazon.com has a fifty-two week low of $136.47 and a fifty-two week high of $201.20. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $184.82 and a two-hundred day simple moving average of $183.75. The firm has a market cap of $2.08 trillion, a PE ratio of 47.35, a P/E/G ratio of 1.46 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period last year, the business posted $0.85 earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Amazon.com will post 4.84 earnings per share for the current year.

Insider Activity

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction that occurred on 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 approximately $8,820,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction that occurred on 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 owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,855 shares of company stock worth $9,215,048. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

A number of institutional investors have recently added to or reduced their stakes in AMZN. Cambridge Advisors Inc. increased its position in Amazon.com by 1.5% during the 1st quarter. Cambridge Advisors Inc. now owns 4,625 shares of the e-commerce giant’s stock worth $834,000 after purchasing an additional 70 shares in the last quarter. Kathmere Capital Management LLC increased its position in Amazon.com by 71.5% during the 1st quarter. Kathmere Capital Management LLC now owns 8,776 shares of the e-commerce giant’s stock worth $1,583,000 after purchasing an additional 3,658 shares in the last quarter. Norway Savings Bank increased its position in Amazon.com by 3.6% during the 1st quarter. Norway Savings Bank now owns 26,688 shares of the e-commerce giant’s stock worth $4,814,000 after purchasing an additional 933 shares in the last quarter. New England Research & Management Inc. increased its position in Amazon.com by 5.9% during the 1st quarter. New England Research & Management Inc. now owns 9,413 shares of the e-commerce giant’s stock worth $1,698,000 after purchasing an additional 525 shares in the last quarter. Finally, Silverleafe Capital Partners LLC increased its position in Amazon.com by 7.8% during the 1st quarter. Silverleafe Capital Partners LLC now owns 4,570 shares of the e-commerce giant’s stock worth $824,000 after purchasing an additional 330 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.