Bank of America Cuts Amazon.com (NASDAQ:AMZN) Price Target to $225.00

Amazon.com (NASDAQ:AMZN) had its target price reduced by Bank of America from $257.00 to $225.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

Several other analysts have also issued reports on the stock. Scotiabank lifted their target price on shares of Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Tigress Financial raised their price target on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, December 20th. TD Cowen boosted their price objective on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Loop Capital increased their target price on Amazon.com from $275.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Piper Sandler restated an “overweight” rating and issued a $265.00 target price (up previously from $225.00) on shares of Amazon.com in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $258.19.

Amazon.com Stock Performance

Shares of AMZN stock opened at $184.87 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. Amazon.com has a 12-month low of $151.61 and a 12-month high of $242.52. The business’s 50 day moving average is $204.23 and its two-hundred day moving average is $208.42. The company has a market capitalization of $1.96 trillion, a P/E ratio of 33.43, a P/E/G ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Analysts expect that Amazon.com will post 6.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,620 shares of Amazon.com stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $223.14, for a total value of $3,262,306.80. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $10,933,860. The trade was a 22.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total transaction of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares in the company, valued at $95,776,017.26. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,798 shares of company stock worth $23,341,803 over the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Several large investors have recently added to or reduced their stakes in the business. Rench Wealth Management Inc. increased its position in shares of Amazon.com by 7.9% during the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after acquiring an additional 3,703 shares during the period. Blankinship & Foster LLC grew its stake in Amazon.com by 216.4% during the 3rd quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after purchasing an additional 4,740 shares in the last quarter. Umpqua Bank increased its holdings in Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares during the period. One Wealth Capital Management LLC acquired a new stake in Amazon.com in the 4th quarter valued at about $4,270,000. Finally, Floyd Financial Group LLC purchased a new position in shares of Amazon.com in the 4th quarter valued at about $4,494,000. 72.20% of the stock is 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.