Amazon.com (NASDAQ:AMZN) Price Target Raised to $250.00 at Needham & Company LLC

Amazon.com (NASDAQ:AMZN) had its price target lifted by Needham & Company LLC from $210.00 to $250.00 in a research note issued to investors on Thursday morning, MarketBeat reports. They currently have a buy rating on the e-commerce giant’s stock.

Other equities research analysts also recently issued reports about the company. Piper Sandler increased their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Loop Capital raised their price target on Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. DA Davidson reaffirmed a “buy” rating and set a $235.00 price target on shares of Amazon.com in a research note on Thursday, October 10th. Monness Crespi & Hardt raised their price objective on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus raised their price objective on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $235.45.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded down $8.83 during midday trading on Thursday, hitting $202.65. 70,519,047 shares of the stock were exchanged, compared to its average volume of 41,558,840. Amazon.com has a twelve month low of $139.52 and a twelve month high of $215.90. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average price of $190.54 and a 200-day moving average price of $185.54. The stock has a market cap of $2.13 trillion, a P/E ratio of 43.93, a PEG ratio of 1.44 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping 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 firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period last year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts forecast that Amazon.com will post 5.27 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,766 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $209.85, for a total value of $1,000,145.10. Following the completion of the transaction, the director now owns 94,630 shares in the company, valued at $19,858,105.50. This trade represents a 4.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the transaction, the insider now owns 914,420,614 shares of the company’s stock, valued at $189,056,461,944.50. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,053,349 shares of company stock valued at $1,256,503,289 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds have recently modified their holdings of the stock. Icon Wealth Advisors LLC raised its stake in shares of 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 purchasing an additional 25,581 shares during the period. PayPay Securities Corp boosted its holdings in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP acquired a new position in shares of Amazon.com during the third quarter valued at $37,000. Bull Oak Capital LLC acquired a new position in shares of Amazon.com during the third quarter valued at $45,000. Finally, Values First Advisors Inc. bought a new stake in shares of Amazon.com during the 3rd quarter worth about $56,000. 72.20% of the stock is owned by institutional investors and hedge funds.

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.