Amazon.com (NASDAQ:AMZN) Given New $235.00 Price Target at Citigroup

Amazon.com (NASDAQ:AMZN) had its target price hoisted by analysts at Citigroup from $215.00 to $235.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the e-commerce giant’s stock. Citigroup’s price target indicates a potential upside of 33.19% from the stock’s current price.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Amazon.com from $190.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Evercore ISI upped their price objective on shares of Amazon.com from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Amazon.com from $175.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada increased their price target on shares of Amazon.com from $180.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Wells Fargo & Company increased their price target on shares of Amazon.com from $211.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $204.76.

Amazon.com Stock Down 1.7 %

Shares of NASDAQ:AMZN traded down $3.10 during trading on Wednesday, reaching $176.44. The stock had a trading volume of 14,848,907 shares, compared to its average volume of 42,481,738. Amazon.com has a one year low of $101.15 and a one year high of $189.77. The company has a market capitalization of $1.83 trillion, a P/E ratio of 61.07, a PEG ratio of 1.54 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. The firm’s 50-day simple moving average is $177.60 and its 200 day simple moving average is $157.99.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.19. The company had revenue of $169.96 billion during the quarter, compared to analysts’ expectations of $165.96 billion. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. Amazon.com’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. As a group, research analysts expect that Amazon.com will post 4.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 5,998,849 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the sale, the insider now owns 982,252,968 shares of the company’s stock, valued at $167,140,165,034.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total transaction of $523,807.00. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at approximately $20,239,226.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 5,998,849 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the sale, the insider now owns 982,252,968 shares in the company, valued at $167,140,165,034.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,214,010 shares of company stock valued at $5,505,889,146. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

Institutional investors and hedge funds have recently made changes to their positions in the business. Cooksen Wealth LLC acquired a new stake in Amazon.com during the 4th quarter worth approximately $30,000. PayPay Securities Corp boosted its holdings in Amazon.com by 54.3% in the 3rd quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock worth $34,000 after acquiring an additional 94 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Amazon.com by 45.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock worth $42,000 after acquiring an additional 86 shares during the period. Strid Group LLC purchased a new position in Amazon.com in the 4th quarter worth approximately $43,000. Finally, Harbor Investment Advisory LLC boosted its stake in shares of Amazon.com by 0.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after buying an additional 1,988 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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.