Amazon.com (NASDAQ:AMZN) Price Target Raised to $270.00 at HSBC

Amazon.com (NASDAQ:AMZN) had its price target lifted by HSBC from $225.00 to $270.00 in a research note released on Monday,Benzinga reports. HSBC currently has a buy rating on the e-commerce giant’s stock.

Several other research firms have also weighed in on AMZN. Deutsche Bank Aktiengesellschaft raised their price objective on Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Scotiabank increased their price target on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. The Goldman Sachs Group boosted their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 target price on shares of Amazon.com in a report on Tuesday, December 3rd. Finally, Sanford C. Bernstein boosted their price target on shares of Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.33.

Amazon.com Trading Down 0.2 %

Shares of AMZN stock opened at $218.46 on Monday. The stock has a 50-day simple moving average of $216.66 and a 200 day simple moving average of $195.57. The stock has a market capitalization of $2.30 trillion, a P/E ratio of 46.78, a P/E/G ratio of 1.54 and a beta of 1.14. Amazon.com has a fifty-two week low of $149.91 and a fifty-two week high of $233.00. 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 announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts expect that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction 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 completion of the transaction, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the sale, the insider now owns 914,420,614 shares in the company, valued at approximately $189,056,461,944.50. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last three months. 10.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently modified their holdings of AMZN. PayPay Securities Corp boosted its stake in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new position in Amazon.com during the 3rd quarter valued at about $37,000. Bull Oak Capital LLC acquired a new position in Amazon.com in the third quarter valued at about $45,000. Christopher J. Hasenberg Inc grew its stake in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new stake in shares of Amazon.com during the third quarter worth approximately $56,000. 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.