Amazon.com (NASDAQ:AMZN) Price Target Raised to $260.00

Amazon.com (NASDAQ:AMZN) had its target price increased by Cantor Fitzgerald from $240.00 to $260.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the e-commerce giant’s stock.

AMZN has been the topic of several other research reports. Tigress Financial upped their price objective on Amazon.com from $290.00 to $305.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Citigroup restated a “market outperform” rating on shares of Amazon.com in a research note on Thursday, July 10th. Truist Financial upped their price objective on Amazon.com from $226.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada dropped their price target on Amazon.com from $235.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $235.00 price target on shares of Amazon.com in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $250.35.

Amazon.com Trading Up 1.0%

Shares of NASDAQ AMZN opened at $226.13 on Wednesday. The stock’s 50 day moving average price is $213.50 and its two-hundred day moving average price is $208.67. Amazon.com has a 52-week low of $151.61 and a 52-week high of $242.52. The stock has a market capitalization of $2.40 trillion, a P/E ratio of 36.83, a PEG ratio of 1.67 and a beta of 1.33. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17.

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

Insider Activity

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew S. Garman sold 20,923 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,211,799.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,335,232 shares of company stock worth $3,210,622,570. Corporate insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Institutional investors have recently bought and sold shares of the stock. Momentous Wealth Management Inc. acquired a new stake in shares of Amazon.com in the fourth quarter valued at about $749,000. Segall Bryant & Hamill LLC grew its position in shares of Amazon.com by 14.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock valued at $69,572,000 after purchasing an additional 39,696 shares during the last quarter. Bearing Point Capital LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at about $12,014,000. Evergreen Capital Management LLC grew its position in shares of Amazon.com by 0.5% in the fourth quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant’s stock valued at $53,213,000 after purchasing an additional 1,198 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Amazon.com by 173.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant’s stock valued at $759,434,000 after purchasing an additional 2,196,353 shares during the last quarter. 72.20% of the stock is currently owned by 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.