Raymond James Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its target price increased by Raymond James from $260.00 to $275.00 in a report issued on Monday,BayStreet.CA reports.

AMZN has been the topic of several other reports. Wolfe Research boosted their price objective on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. TD Cowen boosted their price target on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Royal Bank of Canada raised their price objective on shares of Amazon.com from $255.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday. JMP Securities reiterated a “market outperform” rating and set a $285.00 target price on shares of Amazon.com in a research report on Friday. Finally, Piper Sandler reissued an “overweight” rating and issued a $265.00 price target (up from $225.00) on shares of Amazon.com in a report on Friday. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $260.52.

Amazon.com Price Performance

Shares of AMZN opened at $233.14 on Monday. The company has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 42.16, a price-to-earnings-growth ratio of 1.36 and a beta of 1.15. Amazon.com has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The firm has a 50-day simple moving average of $226.93 and a 200-day simple moving average of $200.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 25.49% and a net margin of 9.29%. On average, equities research analysts anticipate that Amazon.com will post 6.24 earnings per share for the current year.

Insider Transactions at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction dated 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 directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,850 shares of company stock worth $6,168,581 in the last three months. 10.80% of the stock is currently owned by company insiders.

Institutional Trading of Amazon.com

Large investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of 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 valued at $66,926,008,000 after purchasing an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $37,116,341,000 after buying an additional 6,545,944 shares in the last quarter. Legal & General Group Plc lifted its holdings in Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after buying an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Amazon.com by 0.8% in the 4th quarter. Bank of New York Mellon Corp now owns 67,092,427 shares of the e-commerce giant’s stock worth $14,719,407,000 after acquiring an additional 545,292 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Amazon.com by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,638,207 shares of the e-commerce giant’s stock valued at $13,084,026,000 after acquiring an additional 2,330,113 shares during the last quarter. Institutional investors and hedge funds 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.