Amazon.com (NASDAQ:AMZN) Rating Reiterated by Needham & Company LLC

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $205.00 price objective on the e-commerce giant’s stock. Needham & Company LLC’s price target suggests a potential upside of 10.98% from the stock’s current price.

A number of other research firms also recently issued reports on AMZN. TD Cowen raised their price target on shares of Amazon.com from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Piper Sandler lifted their price objective on shares of Amazon.com from $205.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group raised their price target on shares of Amazon.com from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Citigroup lifted their target price on shares of Amazon.com from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, DA Davidson restated a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $211.07.

Amazon.com Price Performance

AMZN opened at $184.72 on Wednesday. The company has a fifty day simple moving average of $178.79 and a 200 day simple moving average of $159.95. The firm has a market cap of $1.92 trillion, a price-to-earnings ratio of 51.74, a PEG ratio of 1.53 and a beta of 1.15. Amazon.com has a twelve month low of $103.28 and a twelve month high of $189.77. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29.

Amazon.com (NASDAQ:AMZN) last released 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. The business had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 20.73%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. Equities research analysts expect that Amazon.com will post 4.08 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction on 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 owns 132,600 shares of the company’s stock, valued at $23,868,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jeffrey P. Bezos sold 2,009,208 shares of Amazon.com stock in a transaction on 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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction on 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 transaction, the chief executive officer now owns 132,600 shares in the company, valued at $23,868,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,213,510 shares of company stock worth $5,505,811,286. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Amazon.com by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 771,086,427 shares of the e-commerce giant’s stock worth $117,158,872,000 after acquiring an additional 13,134,632 shares during the period. FMR LLC boosted 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 worth $38,403,135,000 after acquiring an additional 21,649,871 shares during the period. Norges Bank purchased a new position in Amazon.com in the 4th quarter worth approximately $17,700,551,000. Northern Trust Corp boosted its stake in shares of Amazon.com by 3.7% during the 3rd quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock valued at $11,736,905,000 after buying an additional 3,260,411 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Amazon.com by 0.5% during the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after buying an additional 295,132 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.