TD Cowen Raises Amazon.com (NASDAQ:AMZN) Price Target to $265.00

Amazon.com (NASDAQ:AMZN) had its price objective hoisted by TD Cowen from $240.00 to $265.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

A number of other research firms have also commented on AMZN. Truist Financial lifted their price objective on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JMP Securities raised their target price on Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Telsey Advisory Group increased their target price on Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $250.00 target price on shares of Amazon.com in a report on Tuesday, December 10th. Finally, Loop Capital boosted their target price on Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $238.87.

Amazon.com Stock Down 0.7 %

Amazon.com stock opened at $227.46 on Thursday. Amazon.com has a 1-year low of $144.05 and a 1-year high of $231.20. The company has a market cap of $2.39 trillion, a P/E ratio of 48.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a fifty day simple moving average of $201.65 and a 200 day simple moving average of $189.72. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. Research analysts anticipate that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This trade represents 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, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the sale, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,034,534 shares of company stock worth $1,253,883,872 in the last ninety days. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

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