Needham & Company LLC Reiterates Buy Rating for Amazon.com (NASDAQ:AMZN)

Needham & Company LLC reiterated their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a report released on Friday morning, Benzinga reports. Needham & Company LLC currently has a $210.00 target price on the e-commerce giant’s stock.

A number of other analysts also recently issued reports on the company. DA Davidson reissued a “buy” rating and issued a $235.00 target price on shares of Amazon.com in a research report on Thursday, October 10th. Telsey Advisory Group boosted their price objective on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler lifted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley reiterated an “overweight” rating and set a $210.00 price objective on shares of Amazon.com in a research note on Thursday, October 3rd. Finally, Scotiabank began coverage on shares of Amazon.com in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $245.00 target price on the stock. Two research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $246.48.

Amazon.com Stock Performance

AMZN stock opened at $195.78 on Friday. The firm has a market cap of $2.05 trillion, a PE ratio of 41.92, a P/E/G ratio of 1.42 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. The business has a 50 day moving average of $185.23 and a 200-day moving average of $183.89. Amazon.com has a 12-month low of $138.36 and a 12-month high of $201.20.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 23.46%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, sell-side analysts expect that Amazon.com will post 4.84 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s 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 completion of the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was 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 of the company’s stock, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction dated Wednesday, August 21st. The shares were 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 $8,820,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,855 shares of company stock valued at $9,215,048. 10.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds have recently bought and sold shares of AMZN. International Assets Investment Management LLC grew its holdings in Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after purchasing an additional 38,949,065 shares during the last quarter. Vanguard Group Inc. raised its position in Amazon.com by 1.9% during 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 purchasing an additional 14,724,687 shares in the last quarter. Swedbank AB purchased a new stake in Amazon.com in the first quarter worth about $2,239,757,000. Capital World Investors lifted its position in shares of 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 worth $5,295,899,000 after purchasing an additional 11,524,463 shares during the period. Finally, Capital Research Global Investors boosted its position in Amazon.com by 8.5% during 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 acquiring an additional 6,810,145 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.