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

Amazon.com (NASDAQ:AMZN) had its price target upped by Sanford C. Bernstein from $225.00 to $235.00 in a research note published on Friday morning, Benzinga reports. They currently have an outperform rating on the e-commerce giant’s stock.

Several other equities research analysts have also recently commented on AMZN. Monness Crespi & Hardt lifted their target price on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday. Bank of America lifted their price objective on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday. DA Davidson restated a “buy” rating and set a $235.00 target price on shares of Amazon.com in a research report on Thursday, October 10th. TD Securities lifted their price target on shares of Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. Finally, Scotiabank boosted their price target on shares of Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $246.48.

Amazon.com Stock Performance

Amazon.com stock opened at $195.78 on Friday. Amazon.com has a 12-month low of $138.36 and a 12-month high of $201.20. The stock has a 50-day simple moving average of $185.23 and a 200 day simple moving average of $183.89. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 41.92, a P/E/G ratio of 1.42 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company 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%. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 earnings per share. On average, research analysts anticipate that Amazon.com will post 4.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,855 shares of company stock valued at $9,215,048. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amazon.com

A number of hedge funds have recently modified their holdings of the stock. Garrison Point Advisors LLC boosted its holdings in shares of Amazon.com by 0.3% during the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after acquiring an additional 55 shares during the period. Meridian Investment Counsel Inc. lifted its holdings in Amazon.com by 1.8% during 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 boosted its stake in 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 valued at $473,000 after purchasing an additional 55 shares during the period. Cherrydale Wealth Management LLC boosted its stake in 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 valued at $1,396,000 after purchasing an additional 55 shares during the period. Finally, Ridgecrest Wealth Partners LLC grew its holdings in 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 valued at $1,399,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds 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.