Sanford C. Bernstein Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its price target hoisted by stock analysts at Sanford C. Bernstein from $235.00 to $265.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the e-commerce giant’s stock. Sanford C. Bernstein’s price objective suggests a potential upside of 18.68% from the stock’s current price.

A number of other analysts also recently issued reports on AMZN. Maxim Group lifted their price objective on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley lifted their price target on shares of Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Telsey Advisory Group increased their price objective on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial lifted their target price on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $250.00 price target on shares of Amazon.com in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $242.00.

Amazon.com Trading Up 1.3 %

AMZN opened at $223.29 on Wednesday. The firm’s fifty day simple moving average is $205.11 and its 200 day simple moving average is $190.98. The stock has a market capitalization of $2.35 trillion, a P/E ratio of 47.81, a P/E/G ratio of 1.54 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. Amazon.com has a 12 month low of $144.05 and a 12 month high of $233.00.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $157.28 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts anticipate that Amazon.com will post 5.29 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,034,534 shares of company stock worth $1,253,883,872. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Hedge funds and other institutional investors have recently made changes to their positions in the company. PayPay Securities Corp lifted its stake in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com during the 3rd quarter worth $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the third quarter valued at about $45,000. Christopher J. Hasenberg Inc grew its position in Amazon.com by 650.0% in the second 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. acquired a new position in Amazon.com during the third quarter worth about $56,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.