Amazon.com (NASDAQ:AMZN) Price Target Raised to $250.00 at Needham & Company LLC

Amazon.com (NASDAQ:AMZN) had its price target increased by Needham & Company LLC from $210.00 to $250.00 in a research note published on Thursday morning, MarketBeat reports. The firm currently has a buy rating on the e-commerce giant’s stock.

A number of other research analysts have also recently issued reports on the stock. Truist Financial boosted their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Loop Capital increased their price objective on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Monness Crespi & Hardt increased their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on shares of Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Itau BBA Securities lowered 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 report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $235.45.

Amazon.com Price Performance

Shares of AMZN stock traded down $8.83 during mid-day trading on Thursday, reaching $202.65. The company’s stock had a trading volume of 70,519,047 shares, compared to its average volume of 41,558,840. The firm’s 50-day moving average is $190.54 and its two-hundred day moving average is $185.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com has a 1-year low of $139.52 and a 1-year high of $215.90. The company has a market cap of $2.13 trillion, a P/E ratio of 43.93, a PEG ratio of 1.44 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced 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. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, research analysts predict that Amazon.com will post 5.27 earnings per share for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan Rubinstein sold 4,766 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $209.85, for a total value of $1,000,145.10. Following the completion of the sale, the director now directly owns 94,630 shares in the company, valued at $19,858,105.50. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,053,349 shares of company stock valued at $1,256,503,289 over the last quarter. Insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Zhang Financial LLC grew its stake in shares of Amazon.com by 12.9% during the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after acquiring an additional 5,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Amazon.com by 0.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after buying an additional 14,766 shares in the last quarter. GAMMA Investing LLC raised its stake in Amazon.com by 19.2% in the third quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock valued at $22,211,000 after purchasing an additional 19,231 shares in the last quarter. Stonekeep Investments LLC acquired a new position in Amazon.com in the second quarter valued at about $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Amazon.com by 164.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock valued at $203,677,000 after acquiring an additional 654,908 shares during the last quarter. Institutional investors and hedge funds 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.