Amazon.com (NASDAQ:AMZN) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a report published on Thursday, Benzinga reports. They currently have a $210.00 price target on the e-commerce giant’s stock.

A number of other brokerages also recently issued reports on AMZN. Pivotal Research started coverage on shares of Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 price target on the stock. Truist Financial boosted their target price on shares of Amazon.com from $230.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 30th. Sanford C. Bernstein increased their price target on Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Barclays lifted their price objective on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Loop Capital upped their target price on Amazon.com from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $236.78.

Amazon.com Stock Performance

NASDAQ AMZN opened at $187.83 on Thursday. The company has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 52.61, a PEG ratio of 1.38 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Amazon.com has a twelve month low of $118.35 and a twelve month high of $201.20. The stock has a fifty day simple moving average of $183.50 and a 200 day simple moving average of $183.54.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Sell-side analysts expect that Amazon.com will post 4.85 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The trade was 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. In other news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was 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 $371,759,651.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,355 shares of company stock worth $9,877,423. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Several large investors have recently modified their holdings of AMZN. PayPay Securities Corp increased 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 worth $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP purchased a new position in shares of Amazon.com during the 3rd quarter valued at $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com during the 3rd quarter worth $45,000. Values First Advisors Inc. purchased a new stake in Amazon.com in the 3rd quarter worth about $56,000. Finally, Christopher J. Hasenberg Inc raised its stake in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after acquiring an additional 260 shares during the period. Hedge funds and other 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.