Truist Financial Reiterates “Buy” Rating for Amazon.com (NASDAQ:AMZN)

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Truist Financial in a report issued on Friday, TipRanks reports. They currently have a $175.00 target price on the e-commerce giant’s stock. Truist Financial’s price objective would suggest a potential upside of 64.75% from the company’s previous close.

AMZN has been the subject of several other reports. Cowen cut their price objective on shares of Amazon.com from $220.00 to $212.50 in a report on Friday, April 29th. Citigroup assumed coverage on shares of Amazon.com in a report on Wednesday, April 20th. They issued a “buy” rating and a $205.00 price target for the company. DA Davidson dropped their price objective on shares of Amazon.com from $195.00 to $156.25 in a report on Friday, April 29th. Loop Capital dropped their price objective on shares of Amazon.com from $187.50 to $141.25 and set a “buy” rating for the company in a report on Friday, May 27th. Finally, BNP Paribas began coverage on shares of Amazon.com in a research report on Tuesday, March 29th. They issued an “underperform” rating and a $140.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and thirty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $187.67.

Shares of AMZN stock traded up $2.56 during trading hours on Friday, hitting $106.22. 99,401,532 shares of the company were exchanged, compared to its average volume of 91,817,056. The firm has a fifty day simple moving average of $123.52 and a 200 day simple moving average of $146.73. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.35. Amazon.com has a 52-week low of $101.26 and a 52-week high of $188.65. The stock has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 51.28, a P/E/G ratio of 3.16 and a beta of 1.23.

Amazon.com (NASDAQ:AMZNGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The e-commerce giant reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.23). Amazon.com had a return on equity of 21.60% and a net margin of 4.48%. The company had revenue of $116.44 billion for the quarter, compared to analysts’ expectations of $116.52 billion. During the same quarter in the previous year, the business earned $0.79 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts anticipate that Amazon.com will post 1.23 EPS for the current year.

In other news, CEO Andrew R. Jassy sold 1,181 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $2,262.00, for a total value of $2,671,422.00. Following the completion of the sale, the chief executive officer now directly owns 92,781 shares of the company’s stock, valued at $209,870,622. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam Selipsky sold 34 shares of the stock in a transaction on Wednesday, March 30th. The stock was sold at an average price of $3,370.19, for a total transaction of $114,586.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,837 shares of company stock valued at $10,642,923. 12.70% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Stuart Chaussee & Associates Inc. bought a new position in shares of Amazon.com during the fourth quarter worth $27,000. Gibson Wealth Advisors LLC bought a new stake in shares of Amazon.com in the 4th quarter worth about $33,000. Leverty Financial Group LLC bought a new stake in shares of Amazon.com in the 4th quarter worth about $36,000. MBM Wealth Consultants LLC lifted its holdings in shares of Amazon.com by 57.1% in the 4th quarter. MBM Wealth Consultants LLC now owns 11 shares of the e-commerce giant’s stock worth $37,000 after acquiring an additional 4 shares during the last quarter. Finally, William Allan LLC bought a new stake in shares of Amazon.com in the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 72.51% of the company’s stock.

About Amazon.com (Get Rating)

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

See Also

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

Want More Great Investing Ideas?

Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.