Amazon.com’s (AMZN) “Outperform” Rating Reiterated at Evercore ISI

Evercore ISI restated their outperform rating on shares of Amazon.com (NASDAQ:AMZN) in a research report report published on Wednesday morning,Benzinga reports. Evercore ISI currently has a $280.00 price objective on the e-commerce giant’s stock.

A number of other brokerages have also issued reports on AMZN. Citizens Jmp initiated coverage on shares of Amazon.com in a research report on Thursday, July 10th. They set a “strong-buy” rating on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Amazon.com in a research report on Friday, August 1st. Piper Sandler lifted their price objective on shares of Amazon.com from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Amazon.com from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, UBS Group reiterated a “buy” rating and issued a $271.00 price objective (up from $249.00) on shares of Amazon.com in a research report on Monday, July 28th. One research analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com presently has an average rating of “Buy” and a consensus price target of $262.87.

Amazon.com Stock Performance

Shares of AMZN opened at $231.03 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.46 trillion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. The company’s 50 day simple moving average is $221.41 and its 200-day simple moving average is $208.64. Amazon.com has a 12-month low of $161.38 and a 12-month high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. As a group, equities analysts predict that Amazon.com will post 6.31 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the transaction, the insider owned 897,722,088 shares of the company’s stock, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 25,096,253 shares of company stock valued at $5,673,745,409. Insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Amazon.com by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 849,721,601 shares of the e-commerce giant’s stock worth $186,420,422,000 after purchasing an additional 17,447,045 shares during the period. State Street Corp grew its holdings in shares of Amazon.com by 1.4% during the 2nd quarter. State Street Corp now owns 374,097,285 shares of the e-commerce giant’s stock worth $82,073,203,000 after purchasing an additional 5,163,208 shares during the period. FMR LLC grew its holdings in shares of Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock worth $72,061,766,000 after purchasing an additional 1,725,664 shares during the period. Geode Capital Management LLC grew its holdings in shares of Amazon.com by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 216,717,657 shares of the e-commerce giant’s stock worth $47,332,625,000 after purchasing an additional 3,721,658 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Amazon.com by 2.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock worth $40,107,544,000 after purchasing an additional 4,087,933 shares during the period. Institutional investors and hedge funds 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.