Truist Financial Increases Amazon.com (NASDAQ:AMZN) Price Target to $265.00

Amazon.com (NASDAQ:AMZN) had its target price lifted by stock analysts at Truist Financial from $230.00 to $265.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the e-commerce giant’s stock. Truist Financial’s price objective indicates a potential upside of 43.14% from the stock’s current price.

A number of other brokerages have also weighed in on AMZN. Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Amazon.com in a research report on Thursday, September 12th. Morgan Stanley dropped their price target on Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. TD Securities lifted their price objective on Amazon.com from $225.00 to $245.00 in a research note on Wednesday, July 10th. TD Cowen boosted their price target on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler dropped their price target on Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com has an average rating of “Buy” and a consensus price target of $223.65.

Amazon.com Trading Down 0.6 %

Shares of AMZN stock opened at $185.13 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The stock has a fifty day simple moving average of $178.97 and a two-hundred day simple moving average of $182.81. The firm has a market capitalization of $1.93 trillion, a PE ratio of 51.86, a PEG ratio of 1.46 and a beta of 1.14. Amazon.com has a 52-week low of $118.35 and a 52-week high of $201.20.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. On average, analysts predict that Amazon.com will post 4.86 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 1,228,993 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $200.36, for a total transaction of $246,241,037.48. Following the completion of the transaction, the insider now directly owns 930,696,284 shares of the company’s stock, valued at approximately $186,474,307,462.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jeffrey P. Bezos sold 1,228,993 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $200.36, for a total value of $246,241,037.48. Following the sale, the insider now owns 930,696,284 shares in the company, valued at $186,474,307,462.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The disclosure for this sale can be found here. Insiders have sold a total of 4,634,860 shares of company stock valued at $926,639,482 in the last ninety days. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Several hedge funds have recently bought and sold shares of AMZN. Collective Family Office LLC increased its holdings in Amazon.com by 9.7% in the first quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock valued at $1,674,000 after buying an additional 819 shares in the last quarter. Phillips Wealth Planners LLC raised its holdings in Amazon.com by 9.2% in the 1st quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after purchasing an additional 224 shares during the period. Bayesian Capital Management LP purchased a new position in Amazon.com during the fourth quarter worth approximately $5,926,000. Concord Investment Counsel Inc. acquired a new stake in Amazon.com in the first quarter valued at approximately $20,790,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Amazon.com by 26.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 644,319 shares of the e-commerce giant’s stock valued at $116,222,000 after buying an additional 133,471 shares in the last quarter. Hedge funds and other 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.