Amazon.com (NASDAQ:AMZN) Hits New 12-Month High After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Roth Mkm raised their price target on the stock from $220.00 to $250.00. Roth Mkm currently has a buy rating on the stock. Amazon.com traded as high as $230.08 and last traded at $226.09, with a volume of 46768531 shares. The stock had previously closed at $227.03.

Other research analysts have also issued reports about the company. JMP Securities raised their price target on Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. TD Cowen lifted their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price target on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Evercore ISI lifted their price target on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Rosenblatt Securities lifted their price target on Amazon.com from $221.00 to $236.00 and gave the company 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $236.98.

Insider Activity

In related news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total transaction of $735,000.00. Following the sale, the chief executive officer now owns 524,567 shares of the company’s stock, valued at $110,159,070. This represents a 0.66 % 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, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,030,183 shares of company stock valued at $1,252,883,795. 10.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Amazon.com

A number of large investors have recently added to or reduced their stakes in AMZN. PayPay Securities Corp boosted its holdings 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 purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new position in shares of Amazon.com in the 3rd quarter valued at $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com in the 3rd quarter valued at $45,000. Christopher J. Hasenberg Inc lifted its stake in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after acquiring an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. bought a new position in shares of Amazon.com in the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Down 0.4 %

The company has a market capitalization of $2.38 trillion, a P/E ratio of 48.41, a PEG ratio of 1.52 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $198.19 and a 200 day moving average price of $188.47.

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 the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. On average, research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share 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.