The Goldman Sachs Group Increases Amazon.com (NASDAQ:AMZN) Price Target to $240.00

Amazon.com (NASDAQ:AMZN) had its target price upped by equities researchers at The Goldman Sachs Group from $230.00 to $240.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the e-commerce giant’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 21.25% from the stock’s previous close.

A number of other equities research analysts have also weighed in on AMZN. JMP Securities reiterated a “market outperform” rating and set a $265.00 target price on shares of Amazon.com in a research note on Tuesday, October 15th. Wolfe Research began coverage on Amazon.com in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $210.00 price target on shares of Amazon.com in a research report on Thursday, October 3rd. BMO Capital Markets restated an “outperform” rating and set a $230.00 target price on shares of Amazon.com in a research report on Thursday, September 19th. Finally, Barclays increased their price target on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $246.02.

Amazon.com Stock Up 6.2 %

NASDAQ:AMZN opened at $197.93 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The firm has a market cap of $2.08 trillion, a P/E ratio of 42.38, a P/E/G ratio of 1.46 and a beta of 1.14. Amazon.com has a fifty-two week low of $136.47 and a fifty-two week high of $201.20. The firm has a 50-day simple moving average of $184.82 and a two-hundred day simple moving average of $183.76.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the firm posted $0.85 earnings per share. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. Analysts predict that Amazon.com will post 4.84 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,855 shares of company stock worth $9,215,048. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Garrison Point Advisors LLC increased its stake in Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after buying an additional 55 shares during the period. Meridian Investment Counsel Inc. increased its position in shares of Amazon.com by 1.8% during the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after acquiring an additional 55 shares during the period. O Connor Financial Group LLC increased its position in shares of Amazon.com by 2.2% during the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after acquiring an additional 55 shares during the period. Cherrydale Wealth Management LLC raised its stake in shares of Amazon.com by 0.7% during the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after acquiring an additional 55 shares in the last quarter. Finally, Ridgecrest Wealth Partners LLC boosted its holdings in shares of Amazon.com by 0.7% in the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after purchasing an additional 56 shares during the period. 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.