Amazon.com (NASDAQ:AMZN) Price Target Raised to $234.00

Amazon.com (NASDAQ:AMZN) had its price objective lifted by Wells Fargo & Company from $217.00 to $234.00 in a report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the e-commerce giant’s stock.

A number of other analysts also recently weighed in on the stock. Maxim Group reduced their target price on shares of Amazon.com from $318.00 to $238.00 and set a buy rating on the stock in a report on Wednesday. The Goldman Sachs Group boosted their price objective on Amazon.com from $220.00 to $225.00 and gave the stock a buy rating in a research note on Wednesday. Wedbush reaffirmed an outperform rating and issued a $225.00 price objective on shares of Amazon.com in a research note on Wednesday. Truist Financial boosted their target price on Amazon.com from $216.00 to $220.00 and gave the company a buy rating in a research report on Wednesday. Finally, Citigroup raised their price target on Amazon.com from $235.00 to $245.00 and gave the stock a buy rating in a research report on Wednesday. One 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 MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $211.07.

Amazon.com Trading Up 0.8 %

AMZN stock opened at $186.21 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.84. Amazon.com has a 1-year low of $103.31 and a 1-year high of $189.77. The business has a 50 day simple moving average of $178.79 and a two-hundred day simple moving average of $159.95. The company has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 52.16, a PEG ratio of 1.55 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. The business had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. Research analysts anticipate that Amazon.com will post 4.12 EPS for the current fiscal year.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 20,200 shares of Amazon.com 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 directly owns 514,131 shares in the company, valued at approximately $87,397,128.69. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jeffrey P. Bezos sold 5,998,849 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the completion of the transaction, the insider now owns 982,252,968 shares of the company’s stock, valued at approximately $167,140,165,034.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 20,200 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total value of $3,433,798.00. Following the sale, the chief executive officer now directly owns 514,131 shares in the company, valued at $87,397,128.69. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,217,010 shares of company stock valued at $5,506,442,301. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of hedge funds have recently added to or reduced their stakes in AMZN. Ridgecrest Wealth Partners LLC increased its position in Amazon.com by 0.7% in the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after purchasing an additional 56 shares during the period. Stordahl Capital Management Inc. raised its stake in Amazon.com by 2.1% during the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after buying an additional 56 shares during the period. Lutz Financial Services LLC lifted its holdings in Amazon.com by 1.9% during the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after acquiring an additional 57 shares in the last quarter. Echo45 Advisors LLC grew its stake in Amazon.com by 0.9% in the first quarter. Echo45 Advisors LLC now owns 6,619 shares of the e-commerce giant’s stock valued at $1,194,000 after acquiring an additional 59 shares during the period. Finally, ShoreHaven Wealth Partners LLC grew its stake in Amazon.com by 1.9% in the fourth quarter. ShoreHaven Wealth Partners LLC now owns 3,234 shares of the e-commerce giant’s stock valued at $491,000 after acquiring an additional 60 shares during the period. 72.20% of the stock is owned by hedge funds and other 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.