Wedbush Reiterates Outperform Rating for Amazon.com (NASDAQ:AMZN)

Wedbush reissued their outperform rating on shares of Amazon.com (NASDAQ:AMZN) in a report published on Monday morning, Marketbeat Ratings reports. Wedbush currently has a $280.00 target price on the e-commerce giant’s stock, up from their prior target price of $260.00.

A number of other analysts also recently issued reports on the stock. Truist Financial raised their price target on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley raised their price target on Amazon.com from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Benchmark raised their target price on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Pivotal Research began coverage on shares of Amazon.com in a research note on Friday, October 11th. They issued a “buy” rating and a $260.00 price objective on the stock. Finally, DA Davidson reaffirmed a “buy” rating and set a $235.00 target price on shares of Amazon.com in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.46.

Amazon.com Stock Performance

Shares of AMZN stock opened at $235.50 on Monday. 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 capitalization of $2.48 trillion, a price-to-earnings ratio of 50.43, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14. Amazon.com has a one year low of $151.61 and a one year high of $236.40. The company’s 50-day moving average is $220.27 and its 200 day moving average is $197.44.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion during 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 22.41%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS. Sell-side analysts expect that Amazon.com will post 5.39 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com 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 transaction, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quattro Financial Advisors LLC lifted its position in Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after acquiring an additional 45 shares during the last quarter. MBM Wealth Consultants LLC boosted its position in shares of Amazon.com by 0.6% in the 4th quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock worth $1,889,000 after purchasing an additional 48 shares in the last quarter. Semus Wealth Partners LLC increased its position in Amazon.com by 0.3% during the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after buying an additional 49 shares in the last quarter. Bell Investment Advisors Inc raised its stake in Amazon.com by 1.5% in the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock valued at $626,000 after buying an additional 51 shares during the last quarter. Finally, Eaton Cambridge Inc. boosted its holdings in Amazon.com by 1.1% in the fourth quarter. Eaton Cambridge Inc. now owns 4,533 shares of the e-commerce giant’s stock worth $994,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.