Scotiabank Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective hoisted by Scotiabank from $246.00 to $306.00 in a report released on Friday morning,Benzinga reports. The firm currently has a sector outperform rating on the e-commerce giant’s stock.

AMZN has been the topic of several other research reports. Oppenheimer increased their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Monness Crespi & Hardt increased their price target on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Rosenblatt Securities increased their price target on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Robert W. Baird increased their price objective on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Mizuho increased their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.02.

Amazon.com Stock Down 0.2 %

Shares of NASDAQ AMZN opened at $234.85 on Friday. Amazon.com has a 12-month low of $151.61 and a 12-month high of $236.40. The company has a market cap of $2.47 trillion, a P/E ratio of 50.29, a P/E/G 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. The stock has a fifty day moving average price of $219.63 and a 200 day moving average price of $197.22.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The firm’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 posted $0.85 EPS. Research analysts anticipate that Amazon.com will post 5.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares in the company, valued at $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated 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 owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 in the last quarter. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Amazon.com by 3.3% during the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after acquiring an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after buying an additional 6,545,944 shares during the period. Legal & General Group Plc increased its stake in shares of Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after acquiring an additional 1,042,177 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Amazon.com by 3.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after acquiring an additional 1,984,592 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Amazon.com by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after acquiring an additional 1,980,663 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.