Amazon.com (NASDAQ:AMZN) Price Target Raised to $306.00

Amazon.com (NASDAQ:AMZN) had its price objective lifted by Scotiabank from $246.00 to $306.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a sector outperform rating on the e-commerce giant’s stock.

A number of other research analysts also recently issued reports on AMZN. Wedbush boosted their price objective on shares of Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Wells Fargo & Company boosted their price target on shares of Amazon.com from $197.00 to $212.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $270.00 price target on shares of Amazon.com in a research note on Wednesday, January 22nd. The Goldman Sachs Group lifted their price objective on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Robert W. Baird increased their target price on Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $249.02.

Amazon.com Price Performance

AMZN stock opened at $234.85 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $220.27 and its two-hundred day moving average price is $197.45. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 50.29, a PEG ratio of 1.31 and a beta of 1.14. Amazon.com has a 12-month low of $151.61 and a 12-month high of $236.40.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the business posted $0.85 EPS. The business’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts predict that Amazon.com will post 5.39 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $206.75, for a total value of $619,497,843.50. Following the completion of the sale, the insider now owns 914,420,614 shares of the company’s stock, valued at $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. Over the last 90 days, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMZN. Heritage Family Offices LLP purchased a new stake in shares of Amazon.com in the second quarter worth $206,000. Abacus Planning Group Inc. lifted its stake in shares of Amazon.com by 0.7% during the 2nd quarter. Abacus Planning Group Inc. now owns 129,352 shares of the e-commerce giant’s stock valued at $24,997,000 after buying an additional 910 shares in the last quarter. Sabal Trust CO increased its stake in Amazon.com by 3.0% in the 2nd quarter. Sabal Trust CO now owns 38,011 shares of the e-commerce giant’s stock worth $7,346,000 after buying an additional 1,106 shares in the last quarter. Cadinha & Co. LLC raised its holdings in Amazon.com by 726.5% during the second quarter. Cadinha & Co. LLC now owns 81,368 shares of the e-commerce giant’s stock valued at $15,724,000 after acquiring an additional 71,523 shares during the period. Finally, United Capital Management of KS Inc. lifted its position in shares of Amazon.com by 1.6% in the second quarter. United Capital Management of KS Inc. now owns 86,517 shares of the e-commerce giant’s stock valued at $16,719,000 after acquiring an additional 1,388 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other 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.