Amazon.com (NASDAQ:AMZN) Price Target Increased to $240.00 by Analysts at JPMorgan Chase & Co.

Amazon.com (NASDAQ:AMZN) had its price target hoisted by JPMorgan Chase & Co. from $225.00 to $240.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the e-commerce giant’s stock.

A number of other research analysts have also recently issued reports on the stock. Truist Financial lifted their target price on shares of Amazon.com from $216.00 to $220.00 and gave the company a buy rating in a research note on Wednesday. Robert W. Baird boosted their price objective on shares of Amazon.com from $205.00 to $210.00 and gave the stock an outperform rating in a research report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Amazon.com from $220.00 to $225.00 and gave the stock a buy rating in a research report on Wednesday. Evercore ISI boosted their price objective on shares of Amazon.com from $220.00 to $225.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, Sanford C. Bernstein boosted their price objective on shares of Amazon.com from $175.00 to $200.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $210.18.

Amazon.com Stock Up 2.3 %

NASDAQ AMZN opened at $179.00 on Wednesday. Amazon.com has a 1-year low of $101.15 and a 1-year high of $189.77. The stock’s 50 day moving average is $178.59 and its two-hundred day moving average is $159.78. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.86 trillion, a price-to-earnings ratio of 61.72, a PEG ratio of 1.57 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The company had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. Amazon.com’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities analysts forecast that Amazon.com will post 4.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $180.00, for a total transaction of $90,000.00. Following the sale, the chief executive officer now directly owns 132,600 shares of the company’s stock, valued at approximately $23,868,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jeffrey P. Bezos sold 2,009,208 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $166.79, for a total value of $335,115,802.32. Following the sale, the insider now directly owns 938,251,817 shares of the company’s stock, valued at approximately $156,491,020,557.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $180.00, for a total transaction of $90,000.00. Following the completion of the sale, the chief executive officer now directly owns 132,600 shares in the company, valued at $23,868,000. The disclosure for this sale can be found here. Insiders have sold 32,213,510 shares of company stock valued at $5,505,811,286 in the last three months. 10.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors and hedge funds have recently modified their holdings of AMZN. Norges Bank bought a new stake in shares of Amazon.com in the 4th quarter valued at about $17,700,551,000. Vanguard Group Inc. raised its holdings in Amazon.com by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock valued at $96,350,832,000 after acquiring an additional 32,038,029 shares during the period. International Assets Investment Management LLC raised its holdings in Amazon.com by 16,029.3% in the 4th quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock valued at $36,260,810,000 after acquiring an additional 23,717,254 shares during the period. FMR LLC raised its holdings in Amazon.com by 7.7% in the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock valued at $38,403,135,000 after acquiring an additional 21,649,871 shares during the period. Finally, Jennison Associates LLC raised its holdings in Amazon.com by 28.4% in the 3rd quarter. Jennison Associates LLC now owns 54,981,548 shares of the e-commerce giant’s stock valued at $6,989,254,000 after acquiring an additional 12,176,114 shares during the period. 72.20% of the stock is owned by 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.