Raymond James Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective raised by stock analysts at Raymond James from $230.00 to $260.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “strong-buy” rating on the e-commerce giant’s stock. Raymond James’ target price would suggest a potential upside of 12.48% from the company’s current price.

Several other brokerages have also recently commented on AMZN. Cantor Fitzgerald reissued an “overweight” rating and issued a $230.00 price target on shares of Amazon.com in a research note on Monday, October 7th. Moffett Nathanson boosted their price target on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. 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 research note on Wednesday, December 18th. Roth Mkm boosted their price target on Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Royal Bank of Canada boosted their price target on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $246.85.

Amazon.com Stock Up 2.3 %

NASDAQ:AMZN traded up $5.21 on Tuesday, hitting $231.15. 16,565,375 shares of the company’s stock traded hands, compared to its average volume of 28,997,848. 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 1 year low of $151.61 and a 1 year high of $233.00. The firm has a 50-day moving average price of $218.30 and a 200-day moving average price of $196.47. The company has a market cap of $2.43 trillion, a PE ratio of 49.54, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its 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. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business posted $0.85 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts anticipate that Amazon.com will post 5.39 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last 90 days. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds have recently modified their holdings of the business. MBM Wealth Consultants LLC raised its position in Amazon.com by 0.6% in the 4th quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock valued at $1,889,000 after buying an additional 48 shares during the last quarter. Semus Wealth Partners LLC raised its position in Amazon.com by 0.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after buying an additional 49 shares during the last quarter. Bell Investment Advisors Inc raised its position in Amazon.com by 1.5% in the 3rd quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock valued at $626,000 after buying an additional 51 shares during the last quarter. O Connor Financial Group LLC raised its position 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. Finally, Cherrydale Wealth Management LLC raised its position 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. 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.