Amazon.com (NASDAQ:AMZN) had its price objective increased by investment analysts at Wedbush from $250.00 to $260.00 in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the e-commerce giant’s stock. Wedbush’s price objective points to a potential upside of 15.97% from the company’s previous close.
Several other analysts have also recently issued reports on AMZN. UBS Group increased their target price on shares of Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Roth Mkm lifted their price objective on Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Jefferies Financial Group upped their target price on Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Robert W. Baird lifted their price target on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Wolfe Research upped their price objective on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $243.67.
Read Our Latest Analysis on Amazon.com
Amazon.com Trading Up 1.8 %
Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts expect that Amazon.com will post 5.29 EPS for the current year.
Insider Activity
In related news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % 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 in the last 90 days. Company insiders own 10.80% of the company’s stock.
Institutional Investors Weigh In On Amazon.com
Several institutional investors and hedge funds have recently modified their holdings of AMZN. State Street Corp lifted its stake in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 worth $37,116,341,000 after buying an additional 6,545,944 shares in the last quarter. Legal & General Group Plc boosted its stake in Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after buying an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after buying an additional 289,532 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Amazon.com by 3.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after acquiring an additional 1,984,592 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.
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.
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