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

Amazon.com (NASDAQ:AMZN) had its price target increased by Scotiabank from $245.00 to $246.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a sector outperform rating on the e-commerce giant’s stock.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets restated an “outperform” rating and issued a $230.00 target price on shares of Amazon.com in a research note on Thursday, September 19th. Morgan Stanley reiterated an “overweight” rating and issued a $210.00 price objective on shares of Amazon.com in a research note on Thursday, October 3rd. Bank of America upped their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Amazon.com in a research report on Friday. Finally, Telsey Advisory Group upped their price target on Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $246.48.

Amazon.com Trading Down 1.1 %

NASDAQ AMZN opened at $195.78 on Friday. The firm’s 50-day moving average is $185.23 and its two-hundred day moving average is $183.89. Amazon.com has a 12 month low of $138.36 and a 12 month high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 41.92, a PEG ratio of 1.42 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 23.46%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 earnings per share. On average, sell-side analysts anticipate that Amazon.com will post 4.84 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the firm’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 transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the 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 transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This 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 worth $9,215,048 in the last 90 days. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

Several hedge funds have recently made changes to their positions in the stock. Garrison Point Advisors LLC lifted its holdings in shares of Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after purchasing an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. lifted its holdings in shares of Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after purchasing an additional 55 shares during the last quarter. O Connor Financial Group LLC lifted its holdings in shares of Amazon.com by 2.2% in the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after purchasing an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC lifted its holdings in shares of Amazon.com by 0.7% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after purchasing an additional 55 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC lifted its holdings in shares of Amazon.com by 0.7% in the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

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.