Amazon.com (NASDAQ:AMZN) Price Target Raised to $260.00

Amazon.com (NASDAQ:AMZN) had its price target boosted by Oppenheimer from $230.00 to $260.00 in a research report report published on Friday,Benzinga reports. They currently have an outperform rating on the e-commerce giant’s stock.

A number of other analysts also recently issued reports on the stock. Bank of America increased their price target on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wolfe Research increased their target price on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Piper Sandler restated an “overweight” rating and issued a $265.00 price target (up previously from $225.00) on shares of Amazon.com in a research note on Friday. Cantor Fitzgerald reiterated an “overweight” rating and set a $270.00 price target on shares of Amazon.com in a research report on Wednesday, January 22nd. Finally, DA Davidson restated a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $260.20.

Amazon.com Stock Performance

NASDAQ AMZN opened at $229.15 on Friday. The firm has a market capitalization of $2.41 trillion, a P/E ratio of 49.07, a PEG ratio of 1.35 and a beta of 1.15. The stock has a 50-day simple moving average of $226.51 and a two-hundred day simple moving average of $200.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com has a fifty-two week low of $151.61 and a fifty-two week high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. On average, equities analysts forecast that Amazon.com will post 5.3 earnings per share for the current year.

Insider Transactions at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’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 completion of the transaction, the director now directly owns 24,912 shares of the company’s stock, 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 SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the sale, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,026,212 shares of company stock valued at $625,666,424. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMZN. Fiera Capital Corp increased its stake in Amazon.com by 12.5% in the second quarter. Fiera Capital Corp now owns 401,113 shares of the e-commerce giant’s stock valued at $77,515,000 after purchasing an additional 44,615 shares during the last quarter. Beam Wealth Advisors Inc. boosted its holdings in shares of Amazon.com by 138.6% in the 2nd quarter. Beam Wealth Advisors Inc. now owns 12,503 shares of the e-commerce giant’s stock valued at $2,416,000 after buying an additional 7,262 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Amazon.com by 21.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,410,036 shares of the e-commerce giant’s stock valued at $465,739,000 after buying an additional 419,503 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in shares of Amazon.com by 0.4% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 62,907 shares of the e-commerce giant’s stock valued at $12,157,000 after purchasing an additional 252 shares during the last quarter. Finally, Redwood Financial Network Corp increased its position in Amazon.com by 3.6% during the second quarter. Redwood Financial Network Corp now owns 10,091 shares of the e-commerce giant’s stock worth $1,950,000 after buying an additional 349 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.