Wolfe Research Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its target price lifted by Wolfe Research from $250.00 to $270.00 in a research note published on Friday morning, MarketBeat Ratings reports. Wolfe Research currently has an outperform rating on the e-commerce giant’s stock.

AMZN has been the subject of a number of other reports. Wedbush lifted their target price on Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $197.00 price objective on shares of Amazon.com in a research report on Wednesday, November 20th. The Goldman Sachs Group boosted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Scotiabank raised their target price on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Finally, Tigress Financial raised their price objective on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.44.

Amazon.com Trading Up 1.8 %

NASDAQ AMZN opened at $224.19 on Friday. Amazon.com has a 12 month low of $144.05 and a 12 month high of $233.00. The stock has a market capitalization of $2.36 trillion, a P/E ratio of 48.01, a PEG ratio of 1.54 and a beta of 1.16. The firm’s 50-day moving average is $213.07 and its two-hundred day moving average is $194.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 EPS. On average, sell-side analysts anticipate that Amazon.com will post 5.29 earnings per share for the current year.

Insider Activity

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last quarter. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

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

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.