Amazon.com (NASDAQ:AMZN) Price Target Raised to $250.00 at Needham & Company LLC

Amazon.com (NASDAQ:AMZN) had its price objective lifted by Needham & Company LLC from $210.00 to $250.00 in a research note released on Thursday, MarketBeat reports. The firm currently has a buy rating on the e-commerce giant’s stock.

Several other analysts also recently commented on AMZN. DA Davidson reaffirmed a “buy” rating and set a $235.00 price objective on shares of Amazon.com in a research note on Thursday, October 10th. Piper Sandler lifted their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Robert W. Baird increased their target price on shares of Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JMP Securities increased their price objective on Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company cut shares of Amazon.com from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $225.00 to $183.00 in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.45.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $202.61 on Thursday. 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 firm has a 50 day simple moving average of $191.16 and a 200 day simple moving average of $185.69. Amazon.com has a fifty-two week low of $139.52 and a fifty-two week high of $215.90. The firm has a market cap of $2.13 trillion, a P/E ratio of 43.39, a P/E/G ratio of 1.44 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 EPS. Sell-side analysts predict that Amazon.com will post 5.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In related news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. The trade was a 22.96 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $206.75, for a total value of $619,497,843.50. Following the completion of the sale, the insider now owns 914,420,614 shares in the company, valued at $189,056,461,944.50. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,053,349 shares of company stock worth $1,256,503,289. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

Several institutional investors have recently modified their holdings of AMZN. China Universal Asset Management Co. Ltd. lifted its position in shares of Amazon.com by 31.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock valued at $32,894,000 after acquiring an additional 43,759 shares in the last quarter. Drexel Morgan & Co. acquired a new stake in Amazon.com in the 1st quarter valued at about $203,000. TFC Financial Management Inc. increased its holdings in shares of Amazon.com by 9.5% in the first quarter. TFC Financial Management Inc. now owns 12,050 shares of the e-commerce giant’s stock valued at $2,174,000 after purchasing an additional 1,046 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Amazon.com by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 3,797,262 shares of the e-commerce giant’s stock worth $684,950,000 after acquiring an additional 13,302 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. raised its stake in Amazon.com by 1.0% during the first quarter. Cutter & CO Brokerage Inc. now owns 23,971 shares of the e-commerce giant’s stock worth $4,324,000 after purchasing an additional 226 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.