Amazon.com (NASDAQ:AMZN) Hits New 1-Year High After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price reached a new 52-week high during trading on Tuesday after Mizuho raised their price target on the stock from $240.00 to $260.00. Mizuho currently has an outperform rating on the stock. Amazon.com traded as high as $230.08 and last traded at $226.09, with a volume of 46768531 shares. The stock had previously closed at $227.03.

A number of other equities research analysts also recently weighed in on the company. Scotiabank raised their price target on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a research note on Monday, October 7th. Stifel Nicolaus boosted their price objective on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group raised their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Bank of America increased their price target on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $237.42.

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,030,183 shares of company stock worth $1,252,883,795. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Institutional investors have recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC lifted its position in shares of Amazon.com by 9.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after buying an additional 16,392 shares during the last quarter. Zhang Financial LLC raised its position in shares of Amazon.com by 12.9% in the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after purchasing an additional 5,828 shares during the period. BayBridge Capital Group LLC lifted its stake in shares of Amazon.com by 51.8% during the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after buying an additional 4,905 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Amazon.com by 0.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock valued at $550,217,000 after buying an additional 14,766 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Amazon.com by 19.2% during the 3rd quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock valued at $22,211,000 after acquiring an additional 19,231 shares during the period. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

The company has a 50-day moving average price of $198.19 and a two-hundred day moving average price of $188.47. The company has a market capitalization of $2.37 trillion, a PE ratio of 48.19, a PEG ratio of 1.52 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last posted 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 business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. Analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current fiscal 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.