Wedbush Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its target price boosted by analysts at Wedbush from $250.00 to $260.00 in a research report issued on Monday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the e-commerce giant’s stock. Wedbush’s target price points to a potential upside of 17.06% from the stock’s current price.

AMZN has been the subject of several other reports. Monness Crespi & Hardt raised their price target on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Piper Sandler upped their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price target on shares of Amazon.com in a report on Tuesday, December 10th. Finally, Morgan Stanley boosted their price target on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $243.67.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $222.11 on Monday. The company’s fifty day moving average is $214.48 and its two-hundred day moving average is $194.73. The company has a market cap of $2.34 trillion, a P/E ratio of 47.56, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. Amazon.com has a 12-month low of $146.15 and a 12-month high of $233.00. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

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

Insider Transactions at Amazon.com

In related news, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the sale, the chief executive officer now directly owns 349,261 shares in the company, valued at $69,918,559.59. This represents a 4.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Several large investors have recently made changes to their positions in AMZN. PayPay Securities Corp increased its stake in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP bought a new position in Amazon.com in the third quarter valued at about $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the third quarter worth about $45,000. Christopher J. Hasenberg Inc raised its holdings in Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new position in Amazon.com during the 3rd quarter valued at about $56,000. Institutional investors 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.