Amazon.com’s (AMZN) Overweight Rating Reiterated at Cantor Fitzgerald

Amazon.com (NASDAQ:AMZN)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a research report issued on Wednesday,Benzinga reports. They currently have a $270.00 target price on the e-commerce giant’s stock. Cantor Fitzgerald’s target price points to a potential upside of 14.69% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Sanford C. Bernstein lifted 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. DA Davidson reiterated a “buy” rating and issued a $235.00 target price on shares of Amazon.com in a research report on Thursday, October 10th. Wedbush increased their price target on Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Susquehanna lifted their price objective on Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $250.00 target price on shares of Amazon.com in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $247.72.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $235.42 on Wednesday. The stock’s fifty day moving average is $219.15 and its 200 day moving average is $196.95. Amazon.com has a one year low of $151.61 and a one year high of $235.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a market cap of $2.48 trillion, a P/E ratio of 50.41, a P/E/G ratio of 1.29 and a beta of 1.14.

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 analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during 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 company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 earnings per share. Sell-side analysts anticipate that Amazon.com will post 5.39 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This represents a 4.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their position. 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 in the last quarter. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently modified their holdings of AMZN. State Street Corp boosted its holdings in shares of Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after acquiring an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC raised its holdings in Amazon.com by 3.4% during 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 purchasing an additional 6,545,944 shares in the last quarter. Legal & General Group Plc lifted its position in Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Amazon.com by 3.6% during the 3rd 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 valued at $10,776,201,000 after purchasing an additional 1,984,592 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Amazon.com by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after purchasing an additional 1,980,663 shares during the period. 72.20% of the stock is currently owned by institutional investors.

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.