JMP Securities Cuts Amazon.com (NASDAQ:AMZN) Price Target to $240.00

Amazon.com (NASDAQ:AMZN) had its price target lowered by stock analysts at JMP Securities from $285.00 to $240.00 in a report released on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the e-commerce giant’s stock. JMP Securities’ price target suggests a potential upside of 33.64% from the stock’s current price.

Several other brokerages have also commented on AMZN. Tigress Financial upped their target price on Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Truist Financial cut their price target on Amazon.com from $265.00 to $230.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price objective on shares of Amazon.com in a research note on Friday, February 7th. UBS Group increased their target price on shares of Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Bank of America decreased their price target on shares of Amazon.com from $257.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $253.56.

Amazon.com Stock Down 1.4 %

Shares of NASDAQ AMZN opened at $179.59 on Monday. The company’s 50 day moving average price is $201.96 and its 200-day moving average price is $208.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. Amazon.com has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a market capitalization of $1.90 trillion, a P/E ratio of 32.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39.

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

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 8,833 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at approximately $26,647,456.60. The trade was a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction, the chief executive officer now owns 509,474 shares of the company’s stock, valued at $95,776,017.26. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,798 shares of company stock worth $23,341,803. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Several institutional investors have recently made changes to their positions in AMZN. FMB Wealth Management lifted its holdings in Amazon.com by 9.1% during the 1st quarter. FMB Wealth Management now owns 4,370 shares of the e-commerce giant’s stock worth $831,000 after purchasing an additional 363 shares in the last quarter. Yarger Wealth Strategies LLC lifted its holdings in shares of Amazon.com by 0.3% in the first quarter. Yarger Wealth Strategies LLC now owns 28,906 shares of the e-commerce giant’s stock worth $5,500,000 after buying an additional 89 shares in the last quarter. Net Worth Advisory Group boosted its position in shares of Amazon.com by 12.0% in the first quarter. Net Worth Advisory Group now owns 12,937 shares of the e-commerce giant’s stock valued at $2,461,000 after acquiring an additional 1,385 shares during the period. Members Wealth LLC grew its stake in Amazon.com by 4.9% during the first quarter. Members Wealth LLC now owns 7,636 shares of the e-commerce giant’s stock valued at $1,453,000 after acquiring an additional 358 shares in the last quarter. Finally, apricus wealth LLC increased its holdings in Amazon.com by 13.2% during the 1st quarter. apricus wealth LLC now owns 3,433 shares of the e-commerce giant’s stock worth $653,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.