Amazon.com (NASDAQ:AMZN) Price Target Raised to $280.00

Amazon.com (NASDAQ:AMZN) had its price target hoisted by research analysts at Morgan Stanley from $230.00 to $280.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the e-commerce giant’s stock. Morgan Stanley’s price objective would indicate a potential upside of 28.95% from the company’s previous close.

Several other equities analysts have also recently weighed in on AMZN. Loop Capital raised their price target on shares of Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and set a $250.00 price objective on shares of Amazon.com in a research note on Tuesday, December 10th. JPMorgan Chase & Co. upped their target price on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Roth Mkm boosted their price objective on Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average price target of $244.78.

Amazon.com Stock Down 0.8 %

AMZN stock traded down $1.80 during trading on Monday, reaching $217.14. 9,343,133 shares of the stock were exchanged, compared to its average volume of 27,378,797. The firm’s 50 day moving average is $216.20 and its 200 day moving average is $195.42. The firm has a market cap of $2.28 trillion, a P/E ratio of 46.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. 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 twelve month low of $149.91 and a twelve month high of $233.00.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. As a group, research analysts forecast that Amazon.com will post 5.29 EPS for the current year.

Insider Buying and Selling at Amazon.com

In related news, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the transaction, the chief executive officer now owns 518,911 shares in the company, valued at $106,797,072.91. The trade was a 1.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were 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 approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

Hedge funds have recently added to or reduced their stakes in the company. Wesleyan Assurance Society purchased a new stake in shares of Amazon.com during the 2nd quarter valued at about $1,199,000. Value Star Asset Management Hong Kong Ltd raised its stake in Amazon.com by 16.7% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 35,000 shares of the e-commerce giant’s stock valued at $6,764,000 after buying an additional 5,000 shares during the last quarter. Waterway Wealth Management LLC lifted its holdings in shares of Amazon.com by 3.1% during the 2nd quarter. Waterway Wealth Management LLC now owns 3,320 shares of the e-commerce giant’s stock valued at $642,000 after buying an additional 100 shares during the period. Etesian Wealth Advisors Inc. boosted its stake in shares of Amazon.com by 2.2% in the 2nd quarter. Etesian Wealth Advisors Inc. now owns 17,622 shares of the e-commerce giant’s stock worth $3,405,000 after buying an additional 380 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV grew its holdings in shares of Amazon.com by 31.2% in the second quarter. Planning Alternatives Ltd. ADV now owns 1,619 shares of the e-commerce giant’s stock worth $313,000 after acquiring an additional 385 shares during the period. 72.20% of the stock is currently 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.