Amazon.com (NASDAQ:AMZN) Price Target Raised to $280.00

Amazon.com (NASDAQ:AMZN) had its price target increased by analysts at Morgan Stanley from $230.00 to $280.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the e-commerce giant’s stock. Morgan Stanley’s target price would indicate a potential upside of 28.95% from the company’s current price.

Several other brokerages also recently weighed in on AMZN. Wells Fargo & Company reiterated an “equal weight” rating and issued a $197.00 price target on shares of Amazon.com in a report on Wednesday, November 20th. Benchmark increased their target price on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Telsey Advisory Group upped their price target on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Rosenblatt Securities upped their target price on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus price target of $244.78.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN traded down $1.80 during midday trading on Monday, hitting $217.14. The company had a trading volume of 9,343,133 shares, compared to its average volume of 27,378,797. The company has a market cap of $2.28 trillion, a price-to-earnings ratio of 46.50, a PEG ratio of 1.54 and a beta of 1.14. Amazon.com has a 12-month low of $149.91 and a 12-month high of $233.00. The company has a fifty day moving average of $216.20 and a two-hundred day moving average of $195.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm posted $0.85 EPS. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that Amazon.com will post 5.29 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 5,004 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the sale, the director now directly owns 99,396 shares in the company, valued at $19,864,290.60. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Large investors have recently modified their holdings of the stock. Icon Wealth Advisors LLC raised its position in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares in the last quarter. PayPay Securities Corp grew its position in shares of Amazon.com by 64.6% in the 2nd 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 during the last quarter. Hoese & Co LLP purchased a new position in shares of Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com during the 3rd quarter worth approximately $45,000. Finally, Values First Advisors Inc. acquired a new position in Amazon.com during the third quarter worth approximately $56,000. Hedge funds and other 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.