HSBC Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its price target increased by stock analysts at HSBC from $225.00 to $270.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the e-commerce giant’s stock. HSBC’s target price suggests a potential upside of 24.40% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Bank of America upped their target price on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Cowen boosted their price target on Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price target on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Tigress Financial boosted their price target on Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Robert W. Baird boosted their price target on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $245.33.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded down $1.89 during trading on Monday, hitting $217.05. 10,379,219 shares of the stock were exchanged, compared to its average volume of 27,597,088. The company has a fifty day moving average price of $216.20 and a two-hundred day moving average price of $195.42. The company has a market cap of $2.28 trillion, a PE ratio of 46.48, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com has a 12-month low of $149.91 and a 12-month high of $233.00.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion for 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%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 EPS. On average, analysts forecast that Amazon.com will post 5.29 EPS for the current year.

Insider Buying and Selling

In related news, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the transaction, the director now owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the completion of the transaction, the insider now directly owns 914,420,614 shares of the company’s stock, valued at $189,056,461,944.50. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

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