Sanford C. Bernstein Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective upped by Sanford C. Bernstein from $225.00 to $235.00 in a research report released on Friday, Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the e-commerce giant’s stock.

Several other analysts also recently commented on AMZN. Itau BBA Securities downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a report on Friday, August 2nd. Maxim Group lifted their price target on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday. Truist Financial lifted their price target on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday. Stifel Nicolaus lifted their price target on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $244.11.

Amazon.com Trading Up 6.2 %

Amazon.com stock traded up $11.53 during midday trading on Friday, hitting $197.93. 99,687,847 shares of the stock were exchanged, compared to its average volume of 41,329,359. The company has a fifty day simple moving average of $184.82 and a two-hundred day simple moving average of $183.75. Amazon.com has a 52 week low of $136.47 and a 52 week high of $201.20. The stock has a market capitalization of $2.08 trillion, a PE ratio of 47.35, a P/E/G ratio of 1.46 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the firm earned $0.85 EPS. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com will post 4.84 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,855 shares of company stock worth $9,215,048. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Garrison Point Advisors LLC raised its holdings in Amazon.com by 0.3% in the 1st 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 during the last quarter. Meridian Investment Counsel Inc. raised its holdings in Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after buying an additional 55 shares during the last quarter. O Connor Financial Group LLC raised its holdings in Amazon.com by 2.2% in the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after buying an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC raised its holdings in Amazon.com by 0.7% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC increased its position in Amazon.com by 0.7% during the 1st 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 during the period. Institutional investors own 72.20% of the company’s stock.

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.