Amazon.com (NASDAQ:AMZN) Price Target Raised to $303.00 at Bank of America

Amazon.com (NASDAQ:AMZN) had its target price boosted by investment analysts at Bank of America from $272.00 to $303.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the e-commerce giant’s stock. Bank of America‘s price target would suggest a potential upside of 31.01% from the company’s current price.

A number of other equities research analysts have also recently commented on AMZN. Citigroup reaffirmed an “overweight” rating on shares of Amazon.com in a report on Wednesday, November 26th. Wells Fargo & Company restated an “overweight” rating and set a $295.00 target price (up previously from $292.00) on shares of Amazon.com in a research note on Tuesday. HSBC raised their price target on shares of Amazon.com from $260.00 to $285.00 and gave the company a “buy” rating in a report on Friday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Amazon.com in a research note on Wednesday. Finally, Wolfe Research increased their price objective on shares of Amazon.com from $265.00 to $270.00 in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.11.

Amazon.com Stock Down 1.3%

Shares of NASDAQ:AMZN traded down $3.15 on Wednesday, hitting $231.27. 8,575,360 shares of the company traded hands, compared to its average volume of 45,096,223. The stock has a 50 day simple moving average of $227.92 and a 200-day simple moving average of $223.55. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The company has a market cap of $2.47 trillion, a PE ratio of 32.68, a PEG ratio of 1.61 and a beta of 1.37. Amazon.com has a 52 week low of $161.38 and a 52 week high of $258.60.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The company had revenue of $180.17 billion for the quarter, compared to analysts’ expectations of $177.53 billion. During the same quarter in the previous year, the business posted $1.43 EPS. Amazon.com’s revenue was up 13.4% compared to the same quarter last year. As a group, research analysts expect that Amazon.com will post 6.31 earnings per share for the current year.

Insider Activity at Amazon.com

In related news, Director Keith Brian Alexander sold 900 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $233.00, for a total value of $209,700.00. Following the completion of the transaction, the director owned 7,170 shares of the company’s stock, valued at approximately $1,670,610. This represents a 11.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew S. Garman sold 17,768 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $216.90, for a total value of $3,853,879.20. Following the completion of the sale, the chief executive officer owned 6,273 shares of the company’s stock, valued at $1,360,613.70. The trade was a 73.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 79,734 shares of company stock worth $18,493,717 in the last 90 days. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Hedge funds have recently made changes to their positions in the business. Barlow Wealth Partners Inc. lifted its stake in Amazon.com by 0.4% in the 2nd quarter. Barlow Wealth Partners Inc. now owns 12,565 shares of the e-commerce giant’s stock worth $2,763,000 after purchasing an additional 44 shares in the last quarter. Ridgecrest Wealth Partners LLC increased its holdings in shares of Amazon.com by 0.5% in the second quarter. Ridgecrest Wealth Partners LLC now owns 8,399 shares of the e-commerce giant’s stock worth $1,843,000 after purchasing an additional 45 shares during the last quarter. Probity Advisors Inc. lifted its position in shares of Amazon.com by 0.4% in the second quarter. Probity Advisors Inc. now owns 12,157 shares of the e-commerce giant’s stock worth $2,667,000 after buying an additional 45 shares in the last quarter. IMPACTfolio LLC boosted its stake in Amazon.com by 3.8% during the third quarter. IMPACTfolio LLC now owns 1,225 shares of the e-commerce giant’s stock valued at $269,000 after buying an additional 45 shares during the last quarter. Finally, Cadence Wealth Management LLC boosted its stake in Amazon.com by 3.5% during the third quarter. Cadence Wealth Management LLC now owns 1,328 shares of the e-commerce giant’s stock valued at $292,000 after buying an additional 45 shares during the last quarter. 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.