TD Cowen Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective raised by TD Cowen from $240.00 to $265.00 in a report published on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the e-commerce giant’s stock.

Other equities research analysts have also recently issued reports about the stock. Moffett Nathanson boosted their price target on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a research note on Tuesday. Wedbush raised their target price on shares of Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Monness Crespi & Hardt lifted their target price on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Bank of America lifted their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $237.98.

Amazon.com Trading Down 0.6 %

AMZN opened at $228.97 on Thursday. Amazon.com has a fifty-two week low of $144.05 and a fifty-two week high of $231.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 49.03, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The firm has a 50 day simple moving average of $199.89 and a 200 day simple moving average of $189.07.

Amazon.com (NASDAQ:AMZN) last posted 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. The firm 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 revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. On average, sell-side analysts anticipate that Amazon.com will post 5.29 earnings per share for the current year.

Insider Activity

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock valued at $1,253,883,872 over the last three months. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

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