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

Amazon.com (NASDAQ:AMZN) had its price target raised by JPMorgan Chase & Co. from $225.00 to $240.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an overweight rating on the e-commerce giant’s stock.

Several other research analysts have also recently issued reports on AMZN. Needham & Company LLC reaffirmed a buy rating and set a $205.00 price objective on shares of Amazon.com in a research report on Wednesday. DA Davidson reaffirmed a buy rating and issued a $235.00 target price on shares of Amazon.com in a report on Thursday, April 18th. Sanford C. Bernstein increased their target price on shares of Amazon.com from $175.00 to $200.00 and gave the company an outperform rating in a report on Friday, February 2nd. JMP Securities restated a market outperform rating and issued a $225.00 price objective on shares of Amazon.com in a research report on Wednesday, April 24th. Finally, Mizuho lifted their price objective on Amazon.com from $230.00 to $240.00 and gave the company a buy rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $211.07.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $186.21 on Wednesday. The business has a 50-day simple moving average of $178.79 and a 200-day simple moving average of $159.95. The company has a market cap of $1.93 trillion, a PE ratio of 52.16, a P/E/G ratio of 1.55 and a beta of 1.15. Amazon.com has a one year low of $103.31 and a one year high of $189.77. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.84 and a current ratio of 1.07.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The company had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter in the previous year, the business posted $0.31 EPS. The firm’s revenue was up 12.5% on a year-over-year basis. On average, equities research analysts forecast that Amazon.com will post 4.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeffrey P. Bezos sold 2,009,208 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $166.79, for a total transaction of $335,115,802.32. Following the completion of the transaction, the insider now owns 938,251,817 shares of the company’s stock, valued at $156,491,020,557.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Amazon.com news, insider Jeffrey P. Bezos sold 2,009,208 shares of Amazon.com stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $166.79, for a total transaction of $335,115,802.32. Following the sale, the insider now owns 938,251,817 shares in the company, valued at $156,491,020,557.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $180.29, for a total transaction of $631,015.00. Following the transaction, the chief executive officer now directly owns 509,358 shares of the company’s stock, valued at $91,832,153.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,217,010 shares of company stock valued at $5,506,442,301. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently modified their holdings of AMZN. Cooksen Wealth LLC bought a new position in Amazon.com in the 4th quarter valued at $30,000. PayPay Securities Corp lifted its position in shares of Amazon.com by 54.3% during the third quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock worth $34,000 after purchasing an additional 94 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Amazon.com by 45.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 86 shares during the period. Strid Group LLC acquired a new position in Amazon.com during the 4th quarter valued at about $43,000. Finally, Clarity Asset Management Inc. bought a new position in shares of Amazon.com in the 4th quarter valued at about $46,000. Institutional investors 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.