Amazon.com’s (AMZN) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Amazon.com (NASDAQ:AMZN) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $270.00 target price on the e-commerce giant’s stock.

Other research analysts have also issued reports about the company. Jefferies Financial Group increased their price objective on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Robert W. Baird raised their price target on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, December 13th. The Goldman Sachs Group boosted their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Scotiabank lifted their price target on shares of Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Finally, Raymond James increased their price objective on shares of Amazon.com from $230.00 to $260.00 and gave the company a “strong-buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $247.72.

Amazon.com Stock Up 1.9 %

Shares of AMZN opened at $235.01 on Wednesday. The business’s 50 day simple moving average is $218.73 and its 200-day simple moving average is $196.68. Amazon.com has a one year low of $151.61 and a one year high of $235.44. The company has a market capitalization of $2.47 trillion, a P/E ratio of 50.32, a PEG ratio of 1.26 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 8.04% and a return on equity of 22.41%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. As a group, sell-side analysts predict that Amazon.com will post 5.39 EPS for the current fiscal year.

Insider Activity

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 99,396 shares in the company, valued at $19,864,290.60. This represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Amazon.com

Several hedge funds have recently added to or reduced their stakes in AMZN. PayPay Securities Corp grew its stake in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new position in shares of Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com during the third quarter worth approximately $45,000. Values First Advisors Inc. acquired a new stake in Amazon.com during the 3rd quarter worth approximately $56,000. Finally, IFS Advisors LLC boosted its stake in Amazon.com by 1,625.0% in the 4th quarter. IFS Advisors LLC now owns 345 shares of the e-commerce giant’s stock valued at $76,000 after purchasing an additional 325 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.