Amazon.com (NASDAQ:AMZN) Shares Up 1.5% Following Analyst Upgrade

by · The Markets Daily

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was up 1.5% on Wednesday after Raymond James raised their price target on the stock from $230.00 to $260.00. Raymond James currently has a strong-buy rating on the stock. Amazon.com traded as high as $235.44 and last traded at $234.24. Approximately 13,126,192 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 29,686,242 shares. The stock had previously closed at $230.71.

AMZN has been the subject of a number of other research reports. Robert W. Baird upped their target price on Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. Scotiabank lifted their price objective on shares of Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Morgan Stanley upped their target price on Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Redburn Atlantic upped their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average price target of $246.85.

Read Our Latest Stock Report on AMZN

Insider Activity

In related news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the sale, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction 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 $69,918,559.59. This trade represents 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 have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amazon.com

Institutional investors and hedge funds have recently modified their holdings of the company. Clio Asset Management LLC acquired a new stake in Amazon.com during the 4th quarter worth approximately $1,316,000. United Asset Strategies Inc. increased its holdings in shares of Amazon.com by 1.3% in the 4th quarter. United Asset Strategies Inc. now owns 198,215 shares of the e-commerce giant’s stock valued at $43,486,000 after acquiring an additional 2,599 shares during the last quarter. Cornerstone Wealth Group LLC increased its stake in Amazon.com by 2.5% in the fourth quarter. Cornerstone Wealth Group LLC now owns 80,186 shares of the e-commerce giant’s stock valued at $17,592,000 after purchasing an additional 1,947 shares during the last quarter. waypoint wealth counsel lifted its position in shares of Amazon.com by 3.2% during the 4th quarter. waypoint wealth counsel now owns 12,617 shares of the e-commerce giant’s stock worth $2,768,000 after buying an additional 388 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Amazon.com during the 4th quarter worth approximately $301,650,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

The firm has a market cap of $2.46 trillion, a price-to-earnings ratio of 50.12, a PEG ratio of 1.26 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average price is $218.73 and its 200-day moving average price is $196.68.

Amazon.com (NASDAQ:AMZN – Get Free Report) last posted its 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. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS. Analysts expect that Amazon.com, Inc. will post 5.39 earnings per share for the current year.

Amazon.com Company Profile

(Get Free Report)

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.

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