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

Amazon.com (NASDAQ:AMZN) had its price objective raised by JPMorgan Chase & Co. from $225.00 to $240.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the e-commerce giant’s stock.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group reduced their price target on shares of Amazon.com from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $212.00 target price (down previously from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. Mizuho dropped their price target on Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Benchmark reissued a “buy” rating and issued a $260.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.89.

Amazon.com Trading Up 2.7%

NASDAQ AMZN opened at $213.57 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.27 trillion, a P/E ratio of 38.62, a P/E/G ratio of 1.50 and a beta of 1.33. Amazon.com has a 52-week low of $151.61 and a 52-week high of $242.52. The firm has a 50-day moving average price of $191.84 and a 200 day moving average price of $208.71.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The business had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 EPS. Equities research analysts expect that Amazon.com will post 6.31 EPS for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 2,695 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at $24,050,626.20. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $204.98, for a total value of $512,450.00. Following the transaction, the chief executive officer now owns 517,050 shares in the company, valued at approximately $105,984,909. This represents a 0.48% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,037 shares of company stock worth $20,531,075. Company insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of large investors have recently modified their holdings of the stock. Castlekeep Investment Advisors LLC purchased a new stake in shares of Amazon.com during the fourth quarter valued at approximately $25,000. Accordant Advisory Group Inc boosted its stake in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after purchasing an additional 100 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com during the 4th quarter valued at $27,000. LSV Asset Management acquired a new stake in Amazon.com during the 4th quarter valued at $35,000. Finally, Cooksen Wealth LLC purchased a new stake in Amazon.com during the 1st quarter worth $36,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.