Amazon.com (NASDAQ:AMZN) Price Target Raised to $248.00

Amazon.com (NASDAQ:AMZN) had its price objective upped by stock analysts at Moffett Nathanson from $235.00 to $248.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the e-commerce giant’s stock. Moffett Nathanson’s target price would indicate a potential upside of 20.54% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Bank of America increased their target price 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. Roth Mkm upped their price target on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Evercore ISI upped their price target on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein upped their price target on shares of Amazon.com from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $236.20.

Amazon.com Stock Down 1.0 %

Amazon.com stock opened at $205.74 on Tuesday. Amazon.com has a twelve month low of $142.81 and a twelve month high of $215.90. The company has a 50 day moving average of $194.14 and a 200-day moving average of $186.66. The stock has a market capitalization of $2.16 trillion, a PE ratio of 44.06, a price-to-earnings-growth ratio of 1.35 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its 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. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that Amazon.com will post 5.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the sale, the chief executive officer now directly owns 349,261 shares in the company, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,026,683 shares of company stock worth $1,252,148,795 over the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. raised its holdings in Amazon.com by 31.6% in the 1st 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 buying an additional 43,759 shares during the last quarter. Quent Capital LLC raised its holdings in Amazon.com by 3.3% in the 1st quarter. Quent Capital LLC now owns 33,729 shares of the e-commerce giant’s stock valued at $6,084,000 after buying an additional 1,081 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Amazon.com by 44.0% during the 1st quarter. Meeder Asset Management Inc. now owns 207,028 shares of the e-commerce giant’s stock worth $37,344,000 after purchasing an additional 63,291 shares during the last quarter. Meeder Advisory Services Inc. raised its holdings in Amazon.com by 14.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 114,940 shares of the e-commerce giant’s stock worth $20,733,000 after purchasing an additional 14,815 shares during the last quarter. Finally, Verus Capital Partners LLC raised its holdings in Amazon.com by 2.9% during the 1st quarter. Verus Capital Partners LLC now owns 408,608 shares of the e-commerce giant’s stock worth $73,705,000 after purchasing an additional 11,536 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.