Amazon.com’s (AMZN) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Amazon.com, Inc. (NASDAQ:AMZN) in a research report released on Monday morning. Needham & Company LLC currently has a $1,150.00 target price on the e-commerce giant’s stock.

Several other equities analysts have also issued reports on the company. Robert W. Baird reaffirmed an outperform rating and set a $1,100.00 price objective on shares of Amazon.com in a report on Monday. Instinet dropped their price objective on Amazon.com from $1,100.00 to $975.00 and set a buy rating on the stock in a report on Friday. KeyCorp reaffirmed a hold rating on shares of Amazon.com in a report on Friday. Cantor Fitzgerald reaffirmed a buy rating and set a $1,050.00 price objective on shares of Amazon.com in a report on Friday. Finally, Nomura reaffirmed a buy rating on shares of Amazon.com in a report on Thursday, June 15th. Five research analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $1,020.96.

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

Amazon.com (NASDAQ:AMZN) traded up 0.35% during mid-day trading on Monday, hitting $998.64. The stock had a trading volume of 2,076,636 shares. The firm has a 50-day moving average of $972.65 and a 200-day moving average of $868.90. The stock has a market cap of $477.32 billion, a P/E ratio of 188.07 and a beta of 1.47. Amazon.com has a 52-week low of $682.11 and a 52-week high of $1,017.00.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, April 27th. The e-commerce giant reported $1.48 EPS for the quarter, beating the consensus estimate of $1.03 by $0.45. The firm had revenue of $35.71 billion for the quarter, compared to analyst estimates of $35.31 billion. Amazon.com had a return on equity of 14.18% and a net margin of 2.03%. Amazon.com’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 earnings per share. On average, analysts forecast that Amazon.com will post $6.68 EPS for the current fiscal year.

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In related news, insider David Zapolsky sold 505 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $946.59, for a total transaction of $478,027.95. Following the completion of the sale, the insider now owns 2,018 shares of the company’s stock, valued at approximately $1,910,218.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $940.74, for a total transaction of $940,740,000.00. Following the sale, the chief executive officer now directly owns 80,857,196 shares of the company’s stock, valued at approximately $76,065,598,565.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,013,380 shares of company stock valued at $953,846,866. Insiders own 17.70% of the company’s stock.

Several large investors have recently made changes to their positions in AMZN. Exencial Wealth Advisors LLC acquired a new stake in shares of Amazon.com during the fourth quarter worth $248,000. Russell Investments Group Ltd. acquired a new stake in shares of Amazon.com during the fourth quarter worth $373,202,000. Wrapmanager Inc. increased its stake in shares of Amazon.com by 3.1% in the fourth quarter. Wrapmanager Inc. now owns 436 shares of the e-commerce giant’s stock worth $327,000 after buying an additional 13 shares in the last quarter. Massey Quick & Co. LLC acquired a new stake in shares of Amazon.com during the fourth quarter worth $815,000. Finally, Headinvest LLC acquired a new stake in shares of Amazon.com during the fourth quarter worth $243,000. 63.45% of the stock is owned by institutional investors and hedge funds.

About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:AMZN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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