Amazon.com (NASDAQ:AMZN) Price Target Raised to $260.00 at Oppenheimer

Amazon.com (NASDAQ:AMZN) had its price objective boosted by Oppenheimer from $230.00 to $260.00 in a report published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the e-commerce giant’s stock.

A number of other brokerages have also issued reports on AMZN. Morgan Stanley increased their price objective on shares of Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wolfe Research lifted their price target on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a research note on Friday. JPMorgan Chase & Co. raised their price objective on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Raymond James boosted their target price on Amazon.com from $230.00 to $260.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.20.

Amazon.com Stock Down 4.1 %

AMZN opened at $229.15 on Friday. The stock has a market cap of $2.41 trillion, a price-to-earnings ratio of 49.07, a price-to-earnings-growth ratio of 1.35 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The firm’s fifty day moving average is $226.51 and its 200 day moving average is $200.30. Amazon.com has a fifty-two week low of $151.61 and a fifty-two week high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. On average, sell-side analysts forecast that Amazon.com will post 5.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Monday, November 11th. The stock was sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the completion of the transaction, the insider now directly owns 914,420,614 shares in the company, valued at $189,056,461,944.50. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,026,212 shares of company stock worth $625,666,424 in the last three months. 10.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Amazon.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Accordant Advisory Group Inc raised its holdings in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after buying an additional 100 shares during the last quarter. Icon Wealth Advisors LLC increased its position in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after acquiring an additional 25,581 shares during the period. Hoese & Co LLP purchased a new position in Amazon.com in the 3rd quarter worth $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com during the 3rd quarter worth about $45,000. Finally, Quattro Financial Advisors LLC grew its stake in Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after purchasing an additional 45 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Company Profile

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.