Amazon.com (NASDAQ:AMZN) Price Target Raised to $240.00

Amazon.com (NASDAQ:AMZN) had its price target raised by investment analysts at TD Cowen from $230.00 to $240.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. TD Cowen’s target price indicates a potential upside of 21.25% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley reaffirmed an “overweight” rating and set a $210.00 target price on shares of Amazon.com in a research note on Thursday, October 3rd. TD Securities raised their price objective on shares of Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. Evercore ISI reiterated an “outperform” rating and set a $240.00 target price on shares of Amazon.com in a research report on Friday, October 11th. Rosenblatt Securities increased their target price on shares of Amazon.com from $220.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, UBS Group lifted their price target on shares of Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.02.

Amazon.com Stock Up 6.2 %

Amazon.com stock opened at $197.93 on Friday. The firm has a market cap of $2.08 trillion, a price-to-earnings ratio of 42.38, a PEG ratio of 1.46 and a beta of 1.14. Amazon.com has a 52-week low of $136.47 and a 52-week high of $201.20. 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 50 day moving average price of $184.82 and a two-hundred day moving average price of $183.76.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 7.35% and a return on equity of 21.39%. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. Equities analysts predict that Amazon.com will post 4.84 EPS for the current year.

Insiders Place Their Bets

In other news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $8,820,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,855 shares of company stock valued at $9,215,048 over the last ninety days. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its position in shares of Amazon.com by 20,897.2% during the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after buying an additional 38,949,065 shares during the period. Vanguard Group Inc. increased its holdings in Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after acquiring an additional 14,724,687 shares during the period. Swedbank AB purchased a new stake in Amazon.com in the 1st quarter worth approximately $2,239,757,000. Capital World Investors boosted its holdings in Amazon.com by 64.6% in the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after purchasing an additional 11,524,463 shares during the period. Finally, Capital Research Global Investors grew its position in shares of Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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.