Amazon.com (NASDAQ:AMZN) Price Target Raised to $240.00 at TD Cowen

Amazon.com (NASDAQ:AMZN) had its price target raised by TD Cowen from $230.00 to $240.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

Other analysts have also recently issued reports about the company. Wedbush restated an “outperform” rating and set a $225.00 price objective on shares of Amazon.com in a research report on Friday, August 2nd. Roth Mkm boosted their price target on shares of Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Truist Financial raised their price objective on shares of Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Rosenblatt Securities lifted their target price on shares of Amazon.com from $220.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays increased their price target on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $244.11.

Amazon.com Stock Performance

AMZN stock traded up $11.53 on Friday, reaching $197.93. 99,687,847 shares of the company were exchanged, compared to its average volume of 41,329,359. The firm has a market capitalization of $2.08 trillion, a PE ratio of 47.35, a PEG ratio of 1.46 and a beta of 1.14. Amazon.com has a 12 month low of $136.47 and a 12 month high of $201.20. The stock’s fifty day moving average price is $184.82 and its 200 day moving average price is $183.75. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts anticipate that Amazon.com will post 4.84 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the sale, the vice president now owns 121,461 shares in the company, valued at approximately $21,989,299.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,855 shares of company stock valued at $9,215,048 over the last three months. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of hedge funds and other institutional investors have recently modified their holdings of AMZN. International Assets Investment Management LLC grew its stake in shares of Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after buying an additional 38,949,065 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after acquiring an additional 14,724,687 shares during the period. Swedbank AB acquired a new position in shares of Amazon.com during the 1st quarter worth about $2,239,757,000. Capital World Investors raised its holdings in shares of Amazon.com by 64.6% in the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after purchasing an additional 11,524,463 shares during the period. Finally, Capital Research Global Investors lifted its stake in Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 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.