Amazon.com (NASDAQ:AMZN) Price Target Raised to $246.00

Amazon.com (NASDAQ:AMZN) had its price target hoisted by Scotiabank from $245.00 to $246.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a sector outperform rating on the e-commerce giant’s stock.

A number of other research firms have also recently issued reports on AMZN. Royal Bank of Canada restated an “outperform” rating and set a $215.00 price objective on shares of Amazon.com in a report on Friday, August 2nd. Piper Sandler boosted their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday. Sanford C. Bernstein boosted their price target on Amazon.com from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Wedbush restated an “outperform” rating and issued a $225.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. Finally, Robert W. Baird upped their target price on Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $246.48.

Amazon.com Stock Down 1.1 %

NASDAQ AMZN opened at $195.78 on Friday. The stock’s 50-day moving average price is $185.23 and its 200-day moving average price is $183.89. The company has a market capitalization of $2.05 trillion, a P/E ratio of 41.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. Amazon.com has a 52 week low of $138.36 and a 52 week high of $201.20. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last released 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 business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 23.46% and a net margin of 8.04%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. On average, equities research analysts predict that Amazon.com will post 4.84 earnings per share for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value 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 approximately $8,820,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,855 shares of company stock worth $9,215,048. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AMZN. Garrison Point Advisors LLC boosted its stake in Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after purchasing an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. raised its position in Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after buying an additional 55 shares during the last quarter. O Connor Financial Group LLC increased its position in shares of Amazon.com by 2.2% during 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 purchasing an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC increased its position in shares of Amazon.com by 0.7% during 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 purchasing an additional 55 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC grew its stake in shares of Amazon.com by 0.7% during the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after acquiring an additional 56 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.