Truist Financial Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective hoisted by Truist Financial from $226.00 to $250.00 in a report issued on Wednesday morning, MarketBeat.com reports. Truist Financial currently has a buy rating on the e-commerce giant’s stock.

AMZN has been the subject of a number of other research reports. Bank of America raised their price objective on Amazon.com from $230.00 to $248.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. The Goldman Sachs Group dropped their price target on Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their price objective on shares of Amazon.com from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. Raymond James Financial reissued an “outperform” rating and issued a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Finally, DA Davidson decreased their price objective on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $245.60.

Amazon.com Price Performance

NASDAQ:AMZN opened at $223.13 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $206.44 and its two-hundred day simple moving average is $208.70. The stock has a market cap of $2.37 trillion, a PE ratio of 36.34, a P/E/G ratio of 1.68 and a beta of 1.33. Amazon.com has a 52 week low of $151.61 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. As a group, analysts forecast that Amazon.com will post 6.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 19,872 shares of Amazon.com stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,000,233.60. Following the transaction, the chief executive officer directly owned 2,148,694 shares of the company’s stock, valued at approximately $432,532,102.20. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 13,570 shares of Amazon.com stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the completion of the transaction, the senior vice president directly owned 47,030 shares in the company, valued at $9,519,342.30. This represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,426,963 shares of company stock valued at $757,297,707. 9.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tallon Kerry Patrick purchased a new stake in shares of Amazon.com during the fourth quarter valued at $800,000. Capital & Planning LLC grew its holdings in shares of Amazon.com by 72.1% during the fourth quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant’s stock valued at $856,000 after buying an additional 1,635 shares during the last quarter. LaFleur & Godfrey LLC grew its holdings in shares of Amazon.com by 1.8% during the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant’s stock valued at $10,839,000 after buying an additional 860 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Amazon.com by 10.9% during the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after buying an additional 397,007 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Amazon.com during the fourth quarter valued at $301,650,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.