Wedbush Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its price target increased by Wedbush from $250.00 to $260.00 in a report released on Monday, Marketbeat reports. They currently have an outperform rating on the e-commerce giant’s stock.

Other equities research analysts have also issued reports about the company. Telsey Advisory Group raised their target price on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Benchmark increased their price target on shares of Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their target price on Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Oppenheimer lifted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Pivotal Research assumed coverage on shares of Amazon.com in a research report on Friday, October 11th. They set a “buy” rating and a $260.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $243.67.

Amazon.com Stock Up 1.5 %

AMZN stock opened at $227.61 on Monday. Amazon.com has a fifty-two week low of $146.15 and a fifty-two week high of $233.00. The stock’s 50 day simple moving average is $213.85 and its 200 day simple moving average is $194.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The company has a market cap of $2.39 trillion, a P/E ratio of 48.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the company posted $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts expect that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Rubinstein sold 4,766 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $209.85, for a total value of $1,000,145.10. Following the completion of the transaction, the director now owns 94,630 shares of the company’s stock, valued at $19,858,105.50. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

A number of large investors have recently made changes to their positions in AMZN. Icon Wealth Advisors LLC grew 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 worth $28,000 after purchasing an additional 25,581 shares during the period. PayPay Securities Corp boosted its stake 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 worth $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com in the third quarter worth $37,000. Bull Oak Capital LLC bought a new stake in shares of Amazon.com in the third quarter worth $45,000. Finally, Values First Advisors Inc. purchased a new stake in Amazon.com during the third quarter valued at $56,000. 72.20% of the stock is currently owned by institutional investors.

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.