Amazon.com (NASDAQ:AMZN) Price Target Increased to $245.00 by Analysts at Citigroup

Amazon.com (NASDAQ:AMZN) had its target price lifted by Citigroup from $235.00 to $245.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

A number of other equities research analysts have also recently commented on the stock. UBS Group upped their target price on shares of Amazon.com from $215.00 to $217.00 and gave the company a buy rating in a report on Wednesday. Telsey Advisory Group upped their target price on shares of Amazon.com from $200.00 to $215.00 and gave the company an outperform rating in a report on Wednesday. Wells Fargo & Company upped their target price on shares of Amazon.com from $211.00 to $217.00 and gave the company an overweight rating in a report on Monday, April 1st. Barclays upped their target price on shares of Amazon.com from $190.00 to $220.00 and gave the company an overweight rating in a report on Friday, February 2nd. Finally, Wedbush reaffirmed an outperform rating and issued a $225.00 target price on shares of Amazon.com in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of Buy and an average target price of $210.18.

Amazon.com Price Performance

Shares of 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 has a market cap of $1.86 trillion, a PE ratio of 61.72, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 0.84. The firm has a fifty day moving average price of $178.59 and a 200 day moving average price of $159.78.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share 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 firm had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. During the same period in the previous year, the company earned $0.31 earnings per share. Amazon.com’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amazon.com will post 4.11 EPS for the current year.

Insider Activity

In other news, VP Shelley Reynolds sold 3,100 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total value of $523,807.00. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at $20,239,226.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Shelley Reynolds sold 3,100 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total value of $523,807.00. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at $20,239,226.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 20,200 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the completion of the sale, the chief executive officer now owns 514,131 shares in the company, valued at $87,397,128.69. The disclosure for this sale can be found here. Insiders have sold 32,213,510 shares of company stock worth $5,505,811,286 over the last ninety days. 10.30% of the stock is currently owned by insiders.

Institutional Trading of Amazon.com

Several large investors have recently modified their holdings of the business. Cherrydale Wealth Management LLC lifted its stake in shares of Amazon.com by 14.7% during the fourth quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock valued at $799,000 after buying an additional 675 shares during the period. Tompkins Financial Corp lifted its stake in shares of Amazon.com by 3.3% during the fourth quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock valued at $10,875,000 after buying an additional 2,273 shares during the period. Nicholas Company Inc. lifted its stake in shares of Amazon.com by 3.9% during the third quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock valued at $89,628,000 after buying an additional 26,465 shares during the period. Nordea Investment Management AB lifted its stake in shares of Amazon.com by 5.4% during the fourth quarter. Nordea Investment Management AB now owns 5,397,520 shares of the e-commerce giant’s stock valued at $825,065,000 after buying an additional 277,631 shares during the period. Finally, Foresight Capital Management Advisors Inc. purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $1,891,000. 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.