Amazon.com (NASDAQ:AMZN) Price Target Raised to $240.00

Amazon.com (NASDAQ:AMZN) had its target price hoisted by Evercore ISI from $225.00 to $240.00 in a research report report published on Friday, Benzinga reports. They currently have an outperform rating on the e-commerce giant’s stock.

Other equities analysts have also recently issued research reports about the company. UBS Group lifted their price target on Amazon.com from $217.00 to $224.00 and gave the stock a buy rating in a research note on Tuesday, July 30th. JMP Securities raised their price objective on Amazon.com from $245.00 to $265.00 and gave the stock a market outperform rating in a research report on Tuesday, September 3rd. Jefferies Financial Group decreased their price objective on Amazon.com from $235.00 to $225.00 and set a buy rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company decreased their price objective on Amazon.com from $232.00 to $225.00 and set an overweight rating for the company in a research report on Monday, August 26th. Finally, Wedbush restated an outperform rating and set a $225.00 price objective on shares of Amazon.com in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $222.84.

Amazon.com Price Performance

NASDAQ:AMZN opened at $193.88 on Friday. The business’s 50-day moving average price is $178.57 and its 200 day moving average price is $182.22. The firm has a market cap of $2.02 trillion, a P/E ratio of 54.31, a PEG ratio of 1.39 and a beta of 1.14. Amazon.com has a 52-week low of $118.35 and a 52-week high of $201.20. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. As a group, sell-side analysts predict that Amazon.com will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 1,228,993 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $200.36, for a total value of $246,241,037.48. Following the transaction, the insider now directly owns 930,696,284 shares in the company, valued at approximately $186,474,307,462.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

Several large investors have recently made changes to their positions in AMZN. Norges Bank acquired a new position in shares of Amazon.com during the fourth quarter valued at $17,700,551,000. Vanguard Group Inc. increased its holdings in Amazon.com by 1.9% in the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Swedbank AB bought a new stake in Amazon.com in the first quarter valued at about $2,239,757,000. Capital World Investors increased its holdings in Amazon.com by 64.6% in the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after purchasing an additional 11,524,463 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in Amazon.com by 8.5% in the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares during the last quarter. Institutional investors and hedge funds 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.