Amazon.com (NASDAQ:AMZN) Price Target Raised to $265.00

Amazon.com (NASDAQ:AMZN) had its target price upped by equities researchers at Sanford C. Bernstein from $235.00 to $265.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the e-commerce giant’s stock. Sanford C. Bernstein’s price objective suggests a potential upside of 15.12% from the stock’s previous close.

Several other equities research analysts also recently issued reports on AMZN. Mizuho increased their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their target price on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 price target on shares of Amazon.com in a report on Monday, October 7th. Jefferies Financial Group upped their target price on shares of Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Redburn Atlantic lifted their price target on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $242.00.

Amazon.com Stock Performance

AMZN stock traded down $0.96 during mid-day trading on Wednesday, hitting $230.19. The company had a trading volume of 8,739,108 shares, compared to its average volume of 41,091,473. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The firm has a market cap of $2.42 trillion, a PE ratio of 49.29, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. Amazon.com has a 12 month low of $144.05 and a 12 month high of $233.00. The stock’s fifty day moving average price is $203.67 and its two-hundred day moving average price is $190.54.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data 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 business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. On average, analysts forecast that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the transaction, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Icon Wealth Advisors LLC raised its stake in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares in the last quarter. PayPay Securities Corp increased its holdings in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP bought a new position in Amazon.com in the 3rd quarter worth about $37,000. Bull Oak Capital LLC bought a new stake in shares of Amazon.com during the third quarter valued at approximately $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com in the 3rd quarter worth approximately $56,000. Institutional investors and hedge funds 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.