Morgan Stanley Increases Amazon.com (NASDAQ:AMZN) Price Target to $220.00

Amazon.com (NASDAQ:AMZN) had its price objective upped by analysts at Morgan Stanley from $215.00 to $220.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the e-commerce giant’s stock. Morgan Stanley’s price objective indicates a potential upside of 19.10% from the stock’s current price.

Several other brokerages have also weighed in on AMZN. BMO Capital Markets upped their target price on Amazon.com from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 23rd. Truist Financial increased their target price on Amazon.com from $216.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday. Sanford C. Bernstein increased their target price on Amazon.com from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. upped their price target on Amazon.com from $190.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, Telsey Advisory Group increased their target price on Amazon.com from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $211.07.

Check Out Our Latest Report on Amazon.com

Amazon.com Trading Up 3.2 %

Shares of AMZN stock opened at $184.72 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.05. Amazon.com has a 1 year low of $103.28 and a 1 year high of $189.77. The stock has a fifty day moving average of $178.79 and a two-hundred day moving average of $159.95. The firm has a market capitalization of $1.92 trillion, a PE ratio of 51.74, a price-to-earnings-growth ratio of 1.53 and a beta of 1.15.

Amazon.com (NASDAQ:AMZNGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. The business had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. Amazon.com had a return on equity of 20.73% and a net margin of 6.38%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. As a group, research analysts expect that Amazon.com will post 4.08 EPS for the current year.

Insider Buying and Selling

In other news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total value of $90,690.00. Following the sale, the chief executive officer now directly owns 130,600 shares in the company, valued at approximately $23,688,228. The sale was disclosed in a filing with the SEC, which is available through this link. In other Amazon.com news, insider Jeffrey P. Bezos sold 5,998,849 shares of Amazon.com stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the completion of the transaction, the insider now owns 982,252,968 shares in the company, valued at $167,140,165,034.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total value of $90,690.00. Following the completion of the sale, the chief executive officer now directly owns 130,600 shares of the company’s stock, valued at approximately $23,688,228. The disclosure for this sale can be found here. Insiders have sold a total of 32,213,510 shares of company stock worth $5,505,811,286 in the last ninety days. 10.80% of the stock is owned by insiders.

Institutional Trading of Amazon.com

Several large investors have recently modified their holdings of AMZN. Vanguard Group Inc. lifted its position in shares of Amazon.com by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 771,086,427 shares of the e-commerce giant’s stock valued at $117,158,872,000 after acquiring an additional 13,134,632 shares in the last quarter. FMR LLC lifted its position in shares of Amazon.com by 7.7% in the third quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock worth $38,403,135,000 after buying an additional 21,649,871 shares in the last quarter. Norges Bank purchased a new stake in shares of Amazon.com in the fourth quarter worth about $17,700,551,000. Northern Trust Corp lifted its position in shares of Amazon.com by 3.7% in the third quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock worth $11,736,905,000 after buying an additional 3,260,411 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Amazon.com by 0.5% during the first quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after purchasing an additional 295,132 shares during the period. Institutional investors own 72.20% of the company’s stock.

Amazon.com Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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