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

Amazon.com (NASDAQ:AMZN) had its price target increased by research analysts at Maxim Group from $251.00 to $260.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the e-commerce giant’s stock. Maxim Group’s target price would indicate a potential upside of 31.21% from the stock’s previous close.

Several other analysts have also recently commented on AMZN. Barclays increased their price target on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Itau BBA Securities cut shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target for the company. in a research report on Friday, August 2nd. Robert W. Baird increased their target price on Amazon.com from $213.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday. Telsey Advisory Group lifted their price objective on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Monness Crespi & Hardt upped their target price on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.11.

Amazon.com Price Performance

NASDAQ:AMZN traded up $11.76 on Friday, reaching $198.16. The stock had a trading volume of 78,113,704 shares, compared to its average volume of 41,222,922. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.08 trillion, a P/E ratio of 47.36, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. Amazon.com has a 1-year low of $136.47 and a 1-year high of $201.20. The stock has a fifty day moving average price of $184.40 and a 200-day moving average price of $183.65.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the previous year, the business earned $0.85 EPS. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. Research analysts forecast that Amazon.com will post 4.84 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares in the company, valued at $8,820,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,855 shares of company stock valued at $9,215,048 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMZN. PayPay Securities Corp lifted its stake in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP bought a new position in Amazon.com in the 3rd quarter valued at about $37,000. Bull Oak Capital LLC acquired a new position in Amazon.com during the 3rd quarter valued at about $45,000. Values First Advisors Inc. bought a new stake in Amazon.com during the 3rd quarter worth approximately $56,000. Finally, Christopher J. Hasenberg Inc increased its holdings in Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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.