Amazon.com (AMZN) Price Target Raised to $1,350.00 at MKM Partners

Amazon.com (NASDAQ:AMZN) had its price objective hoisted by equities research analysts at MKM Partners from $1,275.00 to $1,350.00 in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the e-commerce giant’s stock. MKM Partners’ price objective would indicate a potential upside of 16.14% from the stock’s current price.

AMZN has been the subject of several other research reports. Stifel Nicolaus restated a “buy” rating and issued a $1,100.00 price objective on shares of Amazon.com in a research note on Tuesday, October 24th. Loop Capital set a $1,200.00 price objective on shares of Amazon.com and gave the company a “buy” rating in a research note on Friday, October 20th. Royal Bank Of Canada set a $1,100.00 price objective on shares of Amazon.com and gave the company a “buy” rating in a research note on Monday, September 11th. Needham & Company LLC restated a “buy” rating and issued a $1,250.00 price objective (up previously from $1,150.00) on shares of Amazon.com in a research note on Friday, October 27th. Finally, Cantor Fitzgerald upped their price objective on shares of Amazon.com to $1,360.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and forty-nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $1,207.37.

Amazon.com (NASDAQ:AMZN) traded down $14.40 during midday trading on Friday, reaching $1,162.35. 4,104,398 shares of the company’s stock traded hands, compared to its average volume of 3,574,474. The company has a quick ratio of 0.74, a current ratio of 1.03 and a debt-to-equity ratio of 1.00. Amazon.com has a one year low of $736.70 and a one year high of $1,213.41. The firm has a market capitalization of $560,100.00, a P/E ratio of 302.94, a PEG ratio of 14.95 and a beta of 1.45.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 26th. The e-commerce giant reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.57). Amazon.com had a net margin of 1.20% and a return on equity of 8.67%. The company had revenue of $43.74 billion during the quarter, compared to analyst estimates of $42.26 billion. During the same quarter in the prior year, the company earned $0.52 EPS. The business’s revenue was up 33.7% on a year-over-year basis. sell-side analysts anticipate that Amazon.com will post 4.24 earnings per share for the current year.

In related news, CEO Jeffrey P. Bezos sold 391,110 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $1,103.53, for a total transaction of $431,601,618.30. Following the sale, the chief executive officer now owns 79,891,433 shares in the company, valued at $88,162,593,058.49. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Zapolsky sold 2,334 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $1,125.39, for a total transaction of $2,626,660.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 399,538 shares of company stock valued at $441,142,749. Corporate insiders own 17.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sage Capital Advisors llc boosted its holdings in shares of Amazon.com by 554.9% in the 3rd quarter. Sage Capital Advisors llc now owns 2,135 shares of the e-commerce giant’s stock valued at $2,052,000 after purchasing an additional 1,809 shares during the last quarter. Shelton Capital Management boosted its holdings in shares of Amazon.com by 5.0% in the 3rd quarter. Shelton Capital Management now owns 28,220 shares of the e-commerce giant’s stock valued at $27,129,000 after purchasing an additional 1,340 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Amazon.com by 15.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,686 shares of the e-commerce giant’s stock valued at $1,621,000 after purchasing an additional 221 shares during the last quarter. Institutional & Family Asset Management LLC boosted its holdings in shares of Amazon.com by 18.6% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 414 shares of the e-commerce giant’s stock valued at $398,000 after purchasing an additional 65 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Amazon.com in the 3rd quarter valued at $21,939,000. Hedge funds and other institutional investors own 59.70% of the company’s stock.

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About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.

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