Sanford C. Bernstein Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective lifted by Sanford C. Bernstein from $235.00 to $265.00 in a research note released on Wednesday morning,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the e-commerce giant’s stock.

Several other equities research analysts have also weighed in on the company. Rosenblatt Securities raised their target price on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Benchmark lifted their price target on shares of Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Maxim Group upped their price objective on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and set a $236.00 target price on shares of Amazon.com in a research report on Tuesday, December 3rd. Finally, Loop Capital raised their price target on Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $242.00.

Amazon.com Trading Up 1.7 %

NASDAQ AMZN traded up $3.81 on Wednesday, reaching $224.33. The stock had a trading volume of 11,239,528 shares, compared to its average volume of 41,107,539. Amazon.com has a 12-month low of $144.05 and a 12-month high of $233.00. The stock has a fifty day moving average price of $204.37 and a two-hundred day moving average price of $190.75. The firm has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 48.04, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Amazon.com will post 5.29 EPS for the current fiscal year.

Insider Activity

In related news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several institutional investors and hedge funds have recently bought and sold shares of AMZN. Foundations Investment Advisors LLC increased its holdings in Amazon.com by 9.7% in the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after buying an additional 16,392 shares during the last quarter. Umpqua Bank lifted its position in shares of Amazon.com by 0.4% in the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after buying an additional 137 shares during the last quarter. Zhang Financial LLC boosted 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. BayBridge Capital Group LLC raised its stake in shares of Amazon.com by 51.8% in the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after acquiring an additional 4,905 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Amazon.com by 0.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after purchasing an additional 14,766 shares during the last quarter. Hedge funds and other institutional investors 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.