Redburn Atlantic Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its target price hoisted by Redburn Atlantic from $225.00 to $235.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Redburn Atlantic currently has a buy rating on the e-commerce giant’s stock.

Several other analysts have also commented on the company. Royal Bank of Canada boosted their price target on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JMP Securities boosted their target price on shares of Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Robert W. Baird raised their price objective on shares of Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group lifted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.20.

Amazon.com Trading Up 1.0 %

Shares of Amazon.com stock opened at $207.89 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com has a 1 year low of $142.81 and a 1 year high of $215.90. The company’s fifty day simple moving average is $194.78 and its 200-day simple moving average is $186.94. The company has a market cap of $2.19 trillion, a price-to-earnings ratio of 44.52, a PEG ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. 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 company earned $0.85 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Amazon.com will post 5.29 EPS for the current year.

Insider Activity at Amazon.com

In other news, 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 sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This represents a 3.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,026,683 shares of company stock worth $1,252,148,795 in the last ninety days. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after buying an additional 14,724,687 shares during the last quarter. State Street Corp grew its holdings in shares of Amazon.com by 3.3% during 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 during the last quarter. Geode Capital Management LLC lifted its stake in Amazon.com by 3.4% in the 3rd 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 purchasing an additional 6,545,944 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Amazon.com by 1.5% during the second 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 in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.