Amazon.com (NASDAQ:AMZN) Given New $270.00 Price Target at Wolfe Research

Amazon.com (NASDAQ:AMZN) had its price target hoisted by equities research analysts at Wolfe Research from $250.00 to $270.00 in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm currently has an “outperform” rating on the e-commerce giant’s stock. Wolfe Research’s price target would indicate a potential upside of 22.60% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Benchmark increased their target price on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. The Goldman Sachs Group raised their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Telsey Advisory Group lifted their price target on shares of Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Redburn Atlantic increased their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.44.

Amazon.com Stock Up 0.4 %

AMZN stock opened at $220.22 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $211.67 and a 200-day simple moving average of $193.59. The company has a market capitalization of $2.32 trillion, a P/E ratio of 47.16, a PEG ratio of 1.54 and a beta of 1.16. Amazon.com has a twelve month low of $144.05 and a twelve month high of $233.00.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. The company’s revenue was up 11.0% on a year-over-year basis. On average, equities research analysts predict that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the sale, the director now owns 99,396 shares of the company’s stock, valued at $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several institutional investors and hedge funds have recently bought and sold shares of the business. Foundations Investment Advisors LLC grew its position in Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after purchasing an additional 16,392 shares in the last quarter. Umpqua Bank boosted its stake in shares of Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after buying an additional 137 shares during the period. Washington Trust Advisors Inc. grew its holdings in shares of Amazon.com by 0.4% during the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after acquiring an additional 982 shares in the last quarter. BayBridge Capital Group LLC increased its stake in shares of Amazon.com by 51.8% in the third quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock worth $2,677,000 after acquiring an additional 4,905 shares during the last quarter. Finally, Zhang Financial LLC raised its holdings in shares of Amazon.com by 12.9% during the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after acquiring an additional 5,828 shares in the last quarter. 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.