Amazon.com (NASDAQ:AMZN) Given “Outperform” Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Amazon.com (NASDAQ:AMZN) in a research note issued to investors on Friday, Benzinga reports. Wedbush currently has a $225.00 price objective on the e-commerce giant’s stock. Wedbush also issued estimates for Amazon.com’s Q3 2024 earnings at $1.22 EPS and FY2025 earnings at $5.93 EPS.

Several other brokerages have also recently commented on AMZN. Mizuho raised their target price on Amazon.com from $230.00 to $240.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Benchmark restated a buy rating and set a $200.00 price objective on shares of Amazon.com in a research report on Tuesday, July 16th. Barclays dropped their target price on Amazon.com from $230.00 to $220.00 and set an overweight rating on the stock in a report on Tuesday, July 16th. Stifel Nicolaus decreased their price target on shares of Amazon.com from $228.00 to $224.00 and set a buy rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Amazon.com from $240.00 to $230.00 and set an overweight rating on the stock in a research note on Friday. One analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com currently has an average rating of Buy and a consensus price target of $222.58.

Amazon.com Trading Down 4.1 %

Amazon.com stock opened at $161.02 on Friday. Amazon.com has a 52 week low of $118.35 and a 52 week high of $201.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. The firm has a market capitalization of $1.68 trillion, a price-to-earnings ratio of 44.45, a P/E/G ratio of 1.32 and a beta of 1.15. The company has a 50 day moving average price of $187.12 and a 200 day moving average price of $179.92.

Insiders Place Their Bets

In related news, VP Shelley Reynolds sold 2,700 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $181.39, for a total transaction of $489,753.00. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at $21,726,894.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Amazon.com news, VP Shelley Reynolds sold 2,700 shares of Amazon.com stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $181.39, for a total transaction of $489,753.00. Following the sale, the vice president now owns 119,780 shares in the company, valued at $21,726,894.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 5,264 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.00, for a total transaction of $1,000,160.00. Following the completion of the transaction, the director now owns 104,400 shares of the company’s stock, valued at approximately $19,836,000. The disclosure for this sale can be found here. Insiders have sold 6,111,990 shares of company stock worth $1,222,095,188 in the last ninety days. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors have recently added to or reduced their stakes in the stock. Collective Family Office LLC grew its holdings in shares of Amazon.com by 9.7% in the 1st quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock worth $1,674,000 after purchasing an additional 819 shares during the last quarter. Members Trust Co boosted its position in Amazon.com by 8.9% in the fourth quarter. Members Trust Co now owns 4,157 shares of the e-commerce giant’s stock valued at $638,000 after buying an additional 341 shares in the last quarter. Phillips Wealth Planners LLC grew its stake in Amazon.com by 9.2% during the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after buying an additional 224 shares during the last quarter. LifePlan Financial LLC acquired a new stake in shares of Amazon.com during the fourth quarter worth approximately $1,276,000. Finally, Legacy CG LLC increased its holdings in shares of Amazon.com by 8.2% during the fourth quarter. Legacy CG LLC now owns 55,645 shares of the e-commerce giant’s stock worth $8,455,000 after buying an additional 4,217 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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.