Amazon.com (NASDAQ:AMZN) Given New $306.00 Price Target at Scotiabank

Amazon.com (NASDAQ:AMZN) had its target price raised by equities research analysts at Scotiabank from $246.00 to $306.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “sector outperform” rating on the e-commerce giant’s stock. Scotiabank’s price objective would indicate a potential upside of 30.30% from the company’s current price.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Jefferies Financial Group boosted their target price on shares of Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Stifel Nicolaus lifted their price target on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. HSBC increased their price objective on Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, UBS Group lifted their target price on Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $249.02.

Amazon.com Price Performance

Amazon.com stock traded down $0.57 during trading hours on Friday, reaching $234.85. 25,702,905 shares of the stock were exchanged, compared to its average volume of 31,141,408. The stock has a 50 day moving average of $219.63 and a two-hundred day moving average of $197.22. The company has a market cap of $2.47 trillion, a P/E ratio of 50.29, a price-to-earnings-growth ratio of 1.31 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 $151.61 and a twelve month high of $236.40.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data 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 business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. Equities analysts expect that Amazon.com will post 5.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AMZN. International Assets Investment Management LLC grew its stake in shares of Amazon.com by 20,897.2% during the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after buying an additional 38,949,065 shares during the last quarter. Parnassus Investments LLC raised its position in Amazon.com by 82,457.3% during the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after purchasing an additional 11,391,479 shares during the last quarter. State Street Corp lifted its holdings in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after buying an additional 11,370,309 shares during the period. Geode Capital Management LLC increased its stake in shares of Amazon.com by 3.4% during the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after buying an additional 6,545,944 shares during the period. Finally, Strategic Financial Concepts LLC raised its holdings in shares of Amazon.com by 13,606.7% during the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after acquiring an additional 3,903,889 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.