Wedbush Increases Amazon.com (NASDAQ:AMZN) Price Target to $250.00

Amazon.com (NASDAQ:AMZN) had its target price upped by research analysts at Wedbush from $225.00 to $250.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the e-commerce giant’s stock. Wedbush’s target price suggests a potential upside of 26.19% from the company’s previous close.

Several other brokerages also recently weighed in on AMZN. JPMorgan Chase & Co. increased their price target on Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday. Rosenblatt Securities boosted their price target on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group raised their price objective on Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a report on Monday. Royal Bank of Canada upped their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Barclays raised their price target on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $244.11.

Amazon.com Price Performance

Shares of AMZN stock traded up $11.71 on Friday, reaching $198.11. The company’s stock had a trading volume of 82,931,984 shares, compared to its average volume of 41,251,191. The stock’s fifty day simple moving average is $184.40 and its 200-day simple moving average is $183.65. Amazon.com has a 1 year low of $136.47 and a 1 year high of $201.20. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 47.39, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23.

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

Insiders Place Their Bets

In related news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the sale, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,855 shares of company stock worth $9,215,048 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

Institutional Trading of Amazon.com

A number of hedge funds have recently bought and sold shares of AMZN. Garrison Point Advisors LLC lifted its position in Amazon.com by 0.3% in the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after purchasing an additional 55 shares during the period. Meridian Investment Counsel Inc. raised its holdings in shares of Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after buying an additional 55 shares in the last quarter. O Connor Financial Group LLC lifted its position in shares of Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after buying an additional 55 shares during the period. Cherrydale Wealth Management LLC boosted its stake in Amazon.com by 0.7% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares in the last quarter. Finally, Ridgecrest Wealth Partners LLC grew its position in 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 acquiring an additional 56 shares during the period. 72.20% of the stock is owned by 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.