JPMorgan Chase & Co. Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective raised by JPMorgan Chase & Co. from $250.00 to $280.00 in a research note released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the e-commerce giant’s stock.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group increased their price objective on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Monness Crespi & Hardt increased their price target on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Cowen boosted their price objective on Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Scotiabank upped their price objective on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Finally, Benchmark boosted their price target on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.00.

Amazon.com Stock Performance

Shares of Amazon.com stock traded up $3.47 during trading hours on Wednesday, hitting $223.99. 12,194,645 shares of the company’s stock traded hands, compared to its average volume of 41,111,266. The stock has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 47.96, a PEG ratio of 1.54 and a beta of 1.16. Amazon.com has a 12-month low of $144.05 and a 12-month high of $233.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The company has a fifty day simple moving average of $204.37 and a 200-day simple moving average of $190.75.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 earnings per share. Equities research analysts anticipate that Amazon.com will post 5.29 EPS for the current fiscal year.

Insider Activity

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the transaction, the chief executive officer now owns 349,261 shares in the company, valued at approximately $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,034,534 shares of company stock valued at $1,253,883,872. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AMZN. Icon Wealth Advisors LLC increased its position in shares of Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after acquiring an additional 25,581 shares during the period. PayPay Securities Corp grew its stake in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com in the third quarter worth about $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com during the 3rd quarter valued at about $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com during the 3rd quarter valued at approximately $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.