Amazon.com (NASDAQ:AMZN) Sets New 12-Month High on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) hit a new 52-week high during trading on Thursday after Needham & Company LLC raised their price target on the stock from $210.00 to $250.00. Needham & Company LLC currently has a buy rating on the stock. Amazon.com traded as high as $215.90 and last traded at $212.69, with a volume of 6408508 shares changing hands. The stock had previously closed at $214.10.

Several other analysts also recently commented on AMZN. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a report on Friday, November 1st. Monness Crespi & Hardt upped their price target on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Telsey Advisory Group lifted their price objective on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Maxim Group upped their target price on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Roth Mkm lifted their price target on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $235.45.

Insider Activity at Amazon.com

In other news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,053,349 shares of company stock valued at $1,256,503,289. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds have recently modified their holdings of the business. Icon Wealth Advisors LLC increased its holdings in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares during the last quarter. PayPay Securities Corp boosted its position in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP acquired a new stake in shares of Amazon.com in the third quarter valued at $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the 3rd quarter valued at $45,000. Finally, Values First Advisors Inc. acquired a new position in Amazon.com during the 3rd quarter worth about $56,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Down 0.7 %

The company has a market capitalization of $2.24 trillion, a PE ratio of 45.85, a PEG ratio of 1.40 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $189.87 and a 200 day moving average of $185.36.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com, Inc. will post 5.27 EPS for the current year.

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.