Amazon.com (NASDAQ:AMZN) Stock Price Up 0.7% After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was up 0.7% during trading on Tuesday after Morgan Stanley raised their price target on the stock from $210.00 to $230.00. Morgan Stanley currently has an overweight rating on the stock. Amazon.com traded as high as $197.43 and last traded at $197.13. Approximately 7,110,407 shares were traded during trading, a decline of 83% from the average daily volume of 41,157,059 shares. The stock had previously closed at $195.78.

A number of other brokerages have also commented on AMZN. DA Davidson reissued a “buy” rating and set a $235.00 price objective on shares of Amazon.com in a report on Thursday, October 10th. Bank of America increased their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday. Sanford C. Bernstein raised their target price on shares of Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday. Stifel Nicolaus raised their target price on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research note on Friday. Finally, Truist Financial raised their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $246.48.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. This 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 news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction 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 owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,855 shares of company stock worth $9,215,048 in the last quarter. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AMZN. Garrison Point Advisors LLC increased its position in shares of Amazon.com by 0.3% in the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after buying an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. increased its position in shares of Amazon.com by 1.8% in the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after buying an additional 55 shares in the last quarter. O Connor Financial Group LLC increased its position in shares of Amazon.com by 2.2% in the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after buying an additional 55 shares in the last quarter. Cherrydale Wealth Management LLC increased its position in shares of Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares in the last quarter. Finally, Stordahl Capital Management Inc. increased its position in shares of Amazon.com by 2.1% in the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after buying an additional 56 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

The firm has a market capitalization of $2.07 trillion, a PE ratio of 42.21, a PEG ratio of 1.46 and a beta of 1.14. The stock has a 50-day moving average price of $185.23 and a 200 day moving average price of $183.89. 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 posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. Equities analysts forecast that Amazon.com, Inc. will post 4.98 EPS for the current fiscal year.

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.