Scotiabank Cuts Amazon.com (NASDAQ:AMZN) Price Target to $250.00

by · The Markets Daily

Amazon.com (NASDAQ:AMZN) had its target price decreased by research analysts at Scotiabank from $306.00 to $250.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the e-commerce giant’s stock. Scotiabank’s price objective indicates a potential upside of 51.08% from the company’s current price.

Several other brokerages have also recently weighed in on AMZN. Rosenblatt Securities boosted their price objective on Amazon.com from $236.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Bank of America cut their target price on Amazon.com from $257.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. DA Davidson dropped their price objective on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Barclays lifted their price target on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group raised their price target on shares of Amazon.com from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the stock. According to MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and an average price target of $249.90.

View Our Latest Analysis on Amazon.com

Amazon.com Price Performance

Amazon.com stock traded down $7.13 during midday trading on Monday, reaching $165.48. 27,935,741 shares of the stock traded hands, compared to its average volume of 41,677,080. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. Amazon.com has a 12 month low of $151.61 and a 12 month high of $242.52. The stock’s fifty day moving average is $198.44 and its 200-day moving average is $208.23. The stock has a market cap of $1.76 trillion, a P/E ratio of 29.92, a PEG ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN – Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. As a group, equities research analysts anticipate that Amazon.com will post 6.31 EPS for the current year.

Insider Activity

In other news, SVP David Zapolsky sold 5,848 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $220.72, for a total transaction of $1,290,770.56. Following the completion of the transaction, the senior vice president now directly owns 69,162 shares in the company, valued at $15,265,436.64. This trade represents a 7.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 27,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the sale, the chief executive officer now directly owns 497,067 shares in the company, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,798 shares of company stock worth $23,341,803 over the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

Several institutional investors have recently modified their holdings of AMZN. Well Done LLC grew its holdings in shares of Amazon.com by 2.0% during the first quarter. Well Done LLC now owns 14,876 shares of the e-commerce giant’s stock worth $2,830,000 after buying an additional 291 shares during the last quarter. Sterling Investment Counsel LLC raised its position in Amazon.com by 149.1% during the first quarter. Sterling Investment Counsel LLC now owns 29,749 shares of the e-commerce giant’s stock worth $5,660,000 after acquiring an additional 17,807 shares during the last quarter. Hamilton Capital Partners LLC increased its stake in shares of Amazon.com by 36.0% during the 1st quarter. Hamilton Capital Partners LLC now owns 71,188 shares of the e-commerce giant’s stock worth $13,544,000 after purchasing an additional 18,862 shares in the last quarter. Lumbard & Kellner LLC raised its position in shares of Amazon.com by 2,215.5% during the 1st quarter. Lumbard & Kellner LLC now owns 28,597 shares of the e-commerce giant’s stock worth $5,441,000 after purchasing an additional 27,362 shares during the last quarter. Finally, Duncan Williams Asset Management LLC lifted its stake in Amazon.com by 4.4% in the 1st quarter. Duncan Williams Asset Management LLC now owns 22,701 shares of the e-commerce giant’s stock valued at $4,319,000 after buying an additional 955 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

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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