Amazon.com (NASDAQ:AMZN) Price Target Increased to $245.00 by Analysts at Citigroup

Amazon.com (NASDAQ:AMZN) had its price target increased by Citigroup from $235.00 to $245.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the e-commerce giant’s stock.

Other analysts have also issued research reports about the company. Wedbush restated an outperform rating and set a $225.00 target price on shares of Amazon.com in a report on Wednesday. Oppenheimer upped their target price on Amazon.com from $210.00 to $220.00 and gave the stock an outperform rating in a report on Wednesday. Piper Sandler upped their target price on Amazon.com from $205.00 to $220.00 and gave the stock an overweight rating in a report on Wednesday. Wolfe Research upped their target price on Amazon.com from $195.00 to $205.00 and gave the stock an outperform rating in a report on Friday, February 2nd. Finally, Mizuho increased their price objective on Amazon.com from $230.00 to $240.00 and gave the company a buy rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Buy and an average price target of $210.18.

Amazon.com Stock Up 2.3 %

Shares of NASDAQ:AMZN opened at $179.00 on Wednesday. Amazon.com has a 52-week low of $101.15 and a 52-week high of $189.77. The stock has a market cap of $1.86 trillion, a P/E ratio of 61.72, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16. The business’s 50 day moving average is $178.59 and its 200 day moving average is $159.78. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. The company had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. Amazon.com’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Sell-side analysts predict that Amazon.com will post 4.11 EPS for the current year.

Insider Activity

In other news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $181.38, for a total transaction of $90,690.00. Following the sale, the chief executive officer now directly owns 130,600 shares in the company, valued at approximately $23,688,228. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $180.73, for a total transaction of $632,555.00. Following the sale, the chief executive officer now directly owns 512,858 shares in the company, valued at approximately $92,688,826.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $181.38, for a total transaction of $90,690.00. Following the completion of the transaction, the chief executive officer now directly owns 130,600 shares in the company, valued at $23,688,228. The disclosure for this sale can be found here. Insiders have sold 32,213,510 shares of company stock worth $5,505,811,286 in the last ninety days. Company insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMZN. Norges Bank purchased a new position in Amazon.com in the 4th quarter valued at about $17,700,551,000. Vanguard Group Inc. lifted its stake in Amazon.com by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock valued at $96,350,832,000 after buying an additional 32,038,029 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Amazon.com by 16,029.3% in the 4th quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock valued at $36,260,810,000 after buying an additional 23,717,254 shares in the last quarter. FMR LLC lifted its stake in Amazon.com by 7.7% in the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock valued at $38,403,135,000 after buying an additional 21,649,871 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in Amazon.com by 28.4% in the 3rd quarter. Jennison Associates LLC now owns 54,981,548 shares of the e-commerce giant’s stock valued at $6,989,254,000 after buying an additional 12,176,114 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.