Moffett Nathanson Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its price objective boosted by Moffett Nathanson from $235.00 to $248.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the e-commerce giant’s stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Telsey Advisory Group boosted 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. Benchmark increased their price objective on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, November 1st. Roth Mkm lifted their target price on shares of Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $197.00 price target on shares of Amazon.com in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average price target of $236.20.

Amazon.com Price Performance

AMZN stock opened at $207.89 on Tuesday. The stock has a market cap of $2.19 trillion, a price-to-earnings ratio of 44.52, a PEG ratio of 1.38 and a beta of 1.14. Amazon.com has a fifty-two week low of $142.81 and a fifty-two week high of $215.90. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $194.78 and a 200 day moving average price of $186.94.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping 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 the consensus estimate of $157.28 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the sale, the chief executive officer now directly owns 518,911 shares in the company, valued at $106,797,072.91. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Rubinstein sold 4,766 shares of Amazon.com stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $209.85, for a total value of $1,000,145.10. Following the sale, the director now owns 94,630 shares of the company’s stock, valued at approximately $19,858,105.50. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,026,683 shares of company stock worth $1,252,148,795. 10.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMZN. Vanguard Group Inc. raised its holdings in Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after acquiring an additional 14,724,687 shares during the last quarter. State Street Corp grew its position in shares of Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares during the period. Geode Capital Management LLC increased its stake in Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after purchasing an additional 6,545,944 shares during the last quarter. Capital Research Global Investors lifted its position in Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares during the period. Finally, Legal & General Group Plc boosted its stake in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after buying an additional 1,042,177 shares during the last quarter. 72.20% of the stock is currently 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.