Amazon.com (NASDAQ:AMZN) Price Target Raised to $255.00 at Wolfe Research

Amazon.com (NASDAQ:AMZN) had its price objective raised by investment analysts at Wolfe Research from $250.00 to $255.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm presently has an “outperform” rating on the e-commerce giant’s stock. Wolfe Research’s price objective suggests a potential upside of 19.64% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets reissued an “outperform” rating and set a $310.00 price objective (up from $304.00) on shares of Amazon.com in a research note on Tuesday, February 3rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $300.00 price target on shares of Amazon.com in a research note on Friday, February 6th. Wall Street Zen downgraded shares of Amazon.com from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Daiwa Securities Group decreased their price target on shares of Amazon.com from $300.00 to $280.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Finally, Wedbush dropped their price target on shares of Amazon.com from $340.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fifty-three have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.93.

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Amazon.com Trading Down 0.2%

AMZN stock opened at $213.13 on Tuesday. The company has a market cap of $2.29 trillion, a P/E ratio of 29.72, a PEG ratio of 1.60 and a beta of 1.40. The business has a fifty day moving average of $224.46 and a 200-day moving average of $227.16. The company has a quick ratio of 0.88, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. Amazon.com has a twelve month low of $161.38 and a twelve month high of $258.60.

Amazon.com (NASDAQ:AMZNGet Free Report) last announced its earnings results on Thursday, February 5th. The e-commerce giant reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.02). Amazon.com had a return on equity of 21.87% and a net margin of 10.83%.The business had revenue of $213.39 billion during the quarter, compared to analysts’ expectations of $211.02 billion. During the same quarter in the previous year, the firm earned $1.86 EPS. Amazon.com’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, equities research analysts expect that Amazon.com will post 6.31 EPS for the current year.

Insider Buying and Selling

In other news, CEO Andrew R. Jassy sold 19,872 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $205.18, for a total value of $4,077,336.96. Following the transaction, the chief executive officer directly owned 2,238,118 shares in the company, valued at approximately $459,217,051.24. This represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew S. Garman sold 17,751 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $205.22, for a total transaction of $3,642,860.22. Following the completion of the transaction, the chief executive officer owned 9,405 shares in the company, valued at approximately $1,930,094.10. This trade represents a 65.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 71,686 shares of company stock valued at $14,688,739 in the last ninety days. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Amazon.com in the 4th quarter worth $32,868,735,000. Auto Owners Insurance Co boosted its holdings in Amazon.com by 27,376.7% in the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock valued at $2,272,397,000 after purchasing an additional 98,090,585 shares in the last quarter. J. Stern & Co. LLP increased its stake in shares of Amazon.com by 20,598.0% during the fourth quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant’s stock worth $20,308,193,000 after acquiring an additional 87,557,736 shares during the period. Nuveen LLC purchased a new position in Amazon.com during the 1st quarter valued at about $11,674,091,000. Finally, Cardano Risk Management B.V. raised its holdings in Amazon.com by 879.4% in the fourth quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant’s stock valued at $6,431,199,000 after buying an additional 25,017,588 shares during the period. Institutional investors own 72.20% of the company’s stock.

More Amazon.com News

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About Amazon.com

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Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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