Needham & Company LLC Reaffirms “Buy” Rating for Amazon.com (NASDAQ:AMZN)

Needham & Company LLC reaffirmed their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a report issued on Thursday, Benzinga reports. The firm currently has a $210.00 price objective on the e-commerce giant’s stock.

Several other research analysts have also recently weighed in on AMZN. TD Securities boosted their price objective on Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. Loop Capital increased their price target on shares of Amazon.com from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wedbush reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of Amazon.com in a research report on Friday, August 2nd. Bank of America reduced their target price on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $210.00 price target on shares of Amazon.com in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $236.78.

Amazon.com Price Performance

AMZN opened at $187.83 on Thursday. The firm’s fifty day moving average price is $183.50 and its two-hundred day moving average price is $183.56. The company has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 52.61, a P/E/G ratio of 1.38 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. Amazon.com has a 1 year low of $118.35 and a 1 year high of $201.20.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. As a group, analysts anticipate that Amazon.com will post 4.85 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $189.25, for a total value of $662,375.00. Following the completion of the transaction, the chief executive officer now directly owns 503,753 shares in the company, valued at $95,335,255.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,355 shares of company stock valued at $9,877,423. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several large investors have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its stake in shares of Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after buying an additional 38,949,065 shares in the last quarter. Vanguard Group Inc. lifted its position in Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after acquiring an additional 14,724,687 shares in the last quarter. Swedbank AB purchased a new stake in Amazon.com during the 1st quarter valued at $2,239,757,000. Capital World Investors increased its holdings in shares of Amazon.com by 64.6% in the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after purchasing an additional 11,524,463 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Amazon.com by 8.5% in the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after purchasing an additional 6,810,145 shares during the last quarter. 72.20% of the stock is currently 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.