Amazon.com (NASDAQ:AMZN) Receives Buy Rating from Needham & Company LLC

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They currently have a $205.00 target price on the e-commerce giant’s stock. Needham & Company LLC’s price target would suggest a potential upside of 13.08% from the stock’s previous close.

A number of other analysts also recently commented on AMZN. Stifel Nicolaus increased their price target on Amazon.com from $200.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group increased their price target on Amazon.com from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Oppenheimer increased their price target on Amazon.com from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Truist Financial increased their price target on Amazon.com from $195.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Raymond James increased their price objective on Amazon.com from $185.00 to $200.00 and gave the company a “strong-buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Buy” and an average price target of $202.80.

Amazon.com Trading Down 1.1 %

NASDAQ AMZN opened at $181.28 on Thursday. The business’s 50-day moving average price is $177.09 and its two-hundred day moving average price is $156.36. Amazon.com has a 12 month low of $101.15 and a 12 month high of $189.77. The firm has a market capitalization of $1.89 trillion, a PE ratio of 62.51, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16. 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 announced its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, beating the consensus estimate of $0.81 by $0.19. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The company had revenue of $169.96 billion for the quarter, compared to analyst estimates of $165.96 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, analysts expect that Amazon.com will post 4.08 EPS for the current year.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $155.72, for a total transaction of $77,860.00. Following the transaction, the chief executive officer now owns 116,560 shares in the company, valued at approximately $18,150,723.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total transaction of $77,860.00. Following the transaction, the chief executive officer now owns 116,560 shares in the company, valued at approximately $18,150,723.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $180.73, for a total value of $632,555.00. Following the transaction, the chief executive officer now owns 512,858 shares in the company, valued at approximately $92,688,826.34. The disclosure for this sale can be found here. Insiders have sold a total of 32,213,510 shares of company stock worth $5,505,798,456 in the last 90 days. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Amazon.com

Several hedge funds and other institutional investors have recently made changes to their positions in AMZN. State Street Corp lifted its position in Amazon.com by 1,869.1% in the 2nd quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after acquiring an additional 310,134,486 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after purchasing an additional 295,880,050 shares during the period. FMR LLC raised its holdings in Amazon.com by 1,792.4% in the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock worth $30,381,089,000 after purchasing an additional 270,931,640 shares during the period. Norges Bank purchased a new stake in Amazon.com in the 4th quarter worth $17,700,551,000. Finally, Moneta Group Investment Advisors LLC increased its stake in Amazon.com by 120,235.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 116,480,298 shares of the e-commerce giant’s stock worth $9,784,345,000 after buying an additional 116,383,502 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.