Amazon.com (NASDAQ:AMZN) Given New $4,200.00 Price Target at Goldman Sachs Group

Amazon.com (NASDAQ:AMZN) had its price target upped by Goldman Sachs Group from $3,800.00 to $4,200.00 in a research report issued on Friday, The Fly reports. The firm presently has a “conviction-buy” rating on the e-commerce giant’s stock. Goldman Sachs Group’s price objective suggests a potential upside of 31.54% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group upped their price target on shares of Amazon.com from $3,100.00 to $3,800.00 and gave the company a “buy” rating in a research report on Monday, July 20th. SVB Leerink started coverage on shares of Amazon.com in a report on Friday, July 24th. They issued a “hold” rating for the company. China International Capital raised their price objective on shares of Amazon.com from $1,850.00 to $2,162.00 in a report on Wednesday, May 6th. Credit Suisse Group raised their price objective on shares of Amazon.com from $3,400.00 to $3,680.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Tigress Financial reiterated a “buy” rating on shares of Amazon.com in a research report on Wednesday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $3,140.00.

Shares of AMZN stock traded up $140.97 during midday trading on Friday, hitting $3,192.85. 239,027 shares of the company were exchanged, compared to its average volume of 5,346,699. The firm has a market capitalization of $1,590.61 billion, a P/E ratio of 152.07, a PEG ratio of 5.56 and a beta of 1.32. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.08. The firm’s 50 day moving average price is $2,876.47 and its two-hundred day moving average price is $2,308.68. Amazon.com has a 52 week low of $1,626.03 and a 52 week high of $3,344.29.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 EPS for the quarter, topping the consensus estimate of $1.70 by $8.60. The business had revenue of $88.91 billion during the quarter, compared to the consensus estimate of $81.56 billion. Amazon.com had a net margin of 3.56% and a return on equity of 17.83%. Analysts expect that Amazon.com will post 20.21 EPS for the current year.

In related news, Director Indra K. Nooyi bought 27 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were bought at an average price of $2,806.80 per share, for a total transaction of $75,783.60. Following the completion of the purchase, the director now directly owns 707 shares of the company’s stock, valued at $1,984,407.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patricia Q. Stonesifer sold 2,200 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $2,329.44, for a total value of $5,124,768.00. Following the completion of the sale, the director now directly owns 4,645 shares of the company’s stock, valued at approximately $10,820,248.80. The disclosure for this sale can be found here. Company insiders own 16.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Gantzert Investment Co. LLC ADV purchased a new stake in shares of Amazon.com in the second quarter valued at approximately $28,000. Sofos Investments Inc. boosted its stake in Amazon.com by 120.0% during the first quarter. Sofos Investments Inc. now owns 121 shares of the e-commerce giant’s stock worth $31,000 after buying an additional 66 shares during the last quarter. Deane Retirement Strategies Inc. boosted its stake in Amazon.com by 142.9% during the first quarter. Deane Retirement Strategies Inc. now owns 17 shares of the e-commerce giant’s stock worth $33,000 after buying an additional 10 shares during the last quarter. Your Advocates Ltd. LLP acquired a new position in Amazon.com during the first quarter worth $37,000. Finally, James Investment Research Inc. acquired a new position in Amazon.com during the second quarter worth $55,000. Institutional investors own 64.54% 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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