Truist Financial Increases Amazon.com (NASDAQ:AMZN) Price Target to $216.00

Amazon.com (NASDAQ:AMZN) had its price objective lifted by stock analysts at Truist Financial from $195.00 to $216.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. Truist Financial’s price target suggests a potential upside of 20.52% from the company’s previous close.

Several other brokerages have also recently issued reports on AMZN. JMP Securities raised their target price on shares of Amazon.com from $175.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Needham & Company LLC lifted their price target on shares of Amazon.com from $175.00 to $205.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Raymond James upped their price objective on shares of Amazon.com from $185.00 to $200.00 and gave the stock a “strong-buy” rating in a report on Friday, February 2nd. Evercore ISI lifted their target price on shares of Amazon.com from $195.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $200.00 price target on shares of Amazon.com in a research note on Wednesday, March 27th. One research 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 a consensus target price of $202.80.

Amazon.com Stock Down 1.1 %

Shares of Amazon.com stock opened at $179.22 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.05. Amazon.com has a 52-week low of $101.15 and a 52-week high of $189.77. The stock has a market capitalization of $1.86 trillion, a price-to-earnings ratio of 61.80, a P/E/G ratio of 1.60 and a beta of 1.16. The company’s 50 day moving average price is $177.28 and its 200-day moving average price is $156.52.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.19. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The firm had revenue of $169.96 billion for the quarter, compared to analysts’ expectations of $165.96 billion. During the same quarter last year, the business earned $0.21 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. Equities research analysts forecast that Amazon.com will post 4.08 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total transaction of $523,807.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $20,239,226.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total value of $523,807.00. Following the completion of the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at $20,239,226.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the completion of the transaction, the chief executive officer now directly owns 116,560 shares of the company’s stock, valued at approximately $18,150,723.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,213,510 shares of company stock valued at $5,505,798,456. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds have recently made changes to their positions in AMZN. Mayflower Financial Advisors LLC boosted its stake in shares of Amazon.com by 0.3% in the third quarter. Mayflower Financial Advisors LLC now owns 194,762 shares of the e-commerce giant’s stock worth $25,000 after acquiring an additional 572 shares during the period. Cooksen Wealth LLC bought a new position in Amazon.com during the fourth quarter valued at approximately $30,000. PayPay Securities Corp boosted its stake in Amazon.com by 54.3% during the third quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock valued at $34,000 after buying an additional 94 shares during the last quarter. Laurel Wealth Planning LLC boosted its stake in Amazon.com by 1,900.0% during the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock valued at $34,000 after buying an additional 304 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new position in Amazon.com during the fourth quarter valued at approximately $37,000. Institutional investors 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.