Amazon.com (NASDAQ:AMZN) Given New Price Target at Bank of America

Amazon.com (NASDAQ:AMZN) had its price objective raised by investment analysts at Bank of America from to in a research report issued to clients and investors on Tuesday, The Fly reports. The firm presently has a “buy” rating on the e-commerce giant’s stock.

AMZN has been the topic of a number of other reports. Macquarie set a $2,200.00 price objective on Amazon.com and gave the company a “buy” rating in a research note on Friday, October 25th. Robert W. Baird set a $2,080.00 price objective on Amazon.com and gave the company a “buy” rating in a research note on Friday, October 25th. Raymond James reduced their price objective on Amazon.com from $2,080.00 to $2,020.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Cowen reaffirmed a “buy” rating and set a $2,400.00 price objective on shares of Amazon.com in a research note on Tuesday, December 17th. Finally, Morgan Stanley reduced their price objective on Amazon.com from $2,200.00 to $2,100.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and forty-four have issued a buy rating to the company. Amazon.com has a consensus rating of “Buy” and an average price target of $2,171.64.

Shares of NASDAQ:AMZN traded down $21.86 on Tuesday, reaching $1,869.44. 3,440,552 shares of the company traded hands, compared to its average volume of 3,250,084. The business’s 50-day simple moving average is $1,816.83 and its 200 day simple moving average is $1,818.18. Amazon.com has a 52 week low of $1,566.76 and a 52 week high of $2,035.80. The stock has a market capitalization of $926.87 billion, a P/E ratio of 92.82, a price-to-earnings-growth ratio of 2.62 and a beta of 1.50. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.40.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 24th. The e-commerce giant reported $4.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.46 by ($0.23). Amazon.com had a net margin of 4.27% and a return on equity of 22.52%. The company had revenue of $69.98 billion for the quarter, compared to the consensus estimate of $68.72 billion. During the same period last year, the business posted $5.75 earnings per share. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. Sell-side analysts expect that Amazon.com will post 20.51 EPS for the current fiscal year.

In other Amazon.com news, CEO Jeffrey A. Wilke sold 200 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $1,865.34, for a total value of $373,068.00. Following the completion of the sale, the chief executive officer now directly owns 10,000 shares in the company, valued at $18,653,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey A. Wilke sold 3,475 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,745.57, for a total transaction of $6,065,855.75. Following the completion of the sale, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $17,455,700. The disclosure for this sale can be found here. Insiders sold 10,196 shares of company stock valued at $17,869,618 over the last 90 days. 16.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Fulton Breakefield Broenniman LLC lifted its holdings in Amazon.com by 2.9% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 5,500 shares of the e-commerce giant’s stock worth $10,162,000 after buying an additional 155 shares during the period. Pflug Koory LLC lifted its holdings in Amazon.com by 30.8% in the fourth quarter. Pflug Koory LLC now owns 34 shares of the e-commerce giant’s stock worth $63,000 after buying an additional 8 shares during the period. Raymond James Trust N.A. lifted its holdings in Amazon.com by 6.5% in the fourth quarter. Raymond James Trust N.A. now owns 8,311 shares of the e-commerce giant’s stock worth $15,358,000 after buying an additional 505 shares during the period. Kistler Tiffany Companies LLC lifted its holdings in Amazon.com by 15.9% in the fourth quarter. Kistler Tiffany Companies LLC now owns 1,069 shares of the e-commerce giant’s stock worth $1,975,000 after buying an additional 147 shares during the period. Finally, Winslow Evans & Crocker Inc. lifted its holdings in Amazon.com by 1.2% in the fourth quarter. Winslow Evans & Crocker Inc. now owns 3,846 shares of the e-commerce giant’s stock worth $7,108,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 55.98% of the company’s stock.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

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