Loop Capital Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price target raised by investment analysts at Loop Capital from $275.00 to $285.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the e-commerce giant’s stock. Loop Capital’s target price points to a potential upside of 23.46% from the stock’s previous close.

A number of other brokerages also recently commented on AMZN. Moffett Nathanson boosted their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 price target on shares of Amazon.com in a research report on Friday, February 7th. JPMorgan Chase & Co. upped their price target on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $236.00 price target on shares of Amazon.com in a research report on Tuesday, December 3rd. Finally, Rosenblatt Securities upped their price target on Amazon.com from $236.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Two 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, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $260.74.

Amazon.com Trading Down 0.8 %

Shares of Amazon.com stock traded down $1.91 on Wednesday, hitting $230.85. 14,898,226 shares of the company traded hands, compared to its average volume of 34,657,379. The stock’s 50 day moving average price is $227.77 and its 200-day moving average price is $201.59. 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 52 week low of $151.61 and a 52 week high of $242.52. The company has a market cap of $2.43 trillion, a PE ratio of 41.75, a PEG ratio of 1.36 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 25.49%. Equities research analysts predict that Amazon.com will post 6.24 EPS for the current year.

Insider Transactions at Amazon.com

In related news, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s 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 transaction, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,850 shares of company stock worth $6,168,581 in the last 90 days. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fiera Capital Corp raised its stake in Amazon.com by 12.5% during the 2nd quarter. Fiera Capital Corp now owns 401,113 shares of the e-commerce giant’s stock worth $77,515,000 after acquiring an additional 44,615 shares in the last quarter. Mystic Asset Management Inc. raised its stake in Amazon.com by 1.6% during the 2nd quarter. Mystic Asset Management Inc. now owns 17,034 shares of the e-commerce giant’s stock worth $3,292,000 after acquiring an additional 274 shares in the last quarter. MayTech Global Investments LLC raised its stake in Amazon.com by 1.8% during the 2nd quarter. MayTech Global Investments LLC now owns 222,873 shares of the e-commerce giant’s stock worth $43,070,000 after acquiring an additional 3,904 shares in the last quarter. WINTON GROUP Ltd increased its stake in Amazon.com by 307.7% in the second quarter. WINTON GROUP Ltd now owns 22,965 shares of the e-commerce giant’s stock valued at $4,438,000 after purchasing an additional 17,332 shares during the period. Finally, Nia Impact Advisors LLC acquired a new position in Amazon.com in the second quarter valued at $222,000. Hedge funds and other 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.