Scotiabank Increases Amazon.com (NASDAQ:AMZN) Price Target to $306.00

Amazon.com (NASDAQ:AMZN) had its price target raised by Scotiabank from $246.00 to $306.00 in a report published on Friday,Benzinga reports. They currently have a sector outperform rating on the e-commerce giant’s stock.

Several other brokerages have also recently weighed in on AMZN. Monness Crespi & Hardt boosted their price target on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Telsey Advisory Group upped their target price on shares of Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Rosenblatt Securities increased their price target on shares of Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wedbush boosted their price objective on Amazon.com from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Finally, Truist Financial raised their price objective on Amazon.com from $265.00 to $270.00 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-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $249.02.

Amazon.com Stock Down 0.2 %

AMZN opened at $234.85 on Friday. The company has a market capitalization of $2.47 trillion, a PE ratio of 50.29, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14. The firm has a 50-day simple moving average of $220.27 and a two-hundred day simple moving average of $197.45. 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 has a 52 week low of $151.61 and a 52 week high of $236.40.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results 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. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Analysts forecast that Amazon.com will post 5.39 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last quarter. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Accordant Advisory Group Inc boosted its stake in Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Icon Wealth Advisors LLC lifted its stake in shares of Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after buying an additional 25,581 shares during the period. PayPay Securities Corp grew its holdings in shares of Amazon.com by 64.6% during the second 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 acquired a new position in shares of Amazon.com in the 3rd quarter valued at $37,000. Finally, Bull Oak Capital LLC purchased a new position in Amazon.com in the 3rd quarter worth $45,000. 72.20% of the stock is currently owned by hedge funds and other 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.