Citizens Jmp Reaffirms “Market Outperform” Rating for Amazon.com (NASDAQ:AMZN)

Amazon.com (NASDAQ:AMZN)‘s stock had its “market outperform” rating reiterated by analysts at Citizens Jmp in a research report issued on Wednesday,Benzinga reports. They currently have a $300.00 target price on the e-commerce giant’s stock. Citizens Jmp’s price target indicates a potential upside of 29.06% from the stock’s current price.

A number of other research analysts have also recently weighed in on AMZN. BMO Capital Markets reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Amazon.com in a research report on Friday, October 31st. Arete increased their price objective on shares of Amazon.com from $248.00 to $253.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Pivotal Research increased their price target on Amazon.com from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, October 31st. Truist Financial set a $290.00 price target on shares of Amazon.com in a research note on Friday, October 31st. Finally, Wedbush reissued an “outperform” rating and set a $340.00 price objective on shares of Amazon.com in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $296.11.

Amazon.com Stock Down 0.8%

Shares of AMZN stock traded down $1.96 during trading hours on Wednesday, hitting $232.46. 12,262,221 shares of the company’s stock traded hands, compared to its average volume of 45,116,156. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2.49 trillion, a price-to-earnings ratio of 32.84, a PEG ratio of 1.61 and a beta of 1.37. The stock’s fifty day simple moving average is $227.92 and its two-hundred day simple moving average is $223.55. Amazon.com has a 12-month low of $161.38 and a 12-month high of $258.60.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.38. The business had revenue of $180.17 billion during the quarter, compared to analysts’ expectations of $177.53 billion. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.43 earnings per share. On average, analysts expect that Amazon.com will post 6.31 EPS for the current year.

Insider Activity

In other news, CEO Matthew S. Garman sold 17,768 shares of Amazon.com stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $216.90, for a total transaction of $3,853,879.20. Following the sale, the chief executive officer owned 6,273 shares of the company’s stock, valued at approximately $1,360,613.70. The trade was a 73.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $226.61, for a total value of $280,316.57. Following the completion of the sale, the director directly owned 26,148 shares in the company, valued at approximately $5,925,398.28. The trade was a 4.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 79,734 shares of company stock valued at $18,493,717 in the last quarter. Insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Amazon.com by 10.9% during the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after acquiring an additional 397,007 shares during the period. Revolve Wealth Partners LLC boosted its position in Amazon.com by 4.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock worth $5,495,000 after purchasing an additional 986 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Amazon.com by 2.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock valued at $442,481,000 after buying an additional 54,987 shares in the last quarter. Highview Capital Management LLC DE raised its stake in shares of Amazon.com by 5.5% during the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock worth $6,357,000 after buying an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC purchased a new stake in shares of Amazon.com in the 4th quarter worth about $2,153,000. Hedge funds and other institutional investors 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.