Truist Financial Issues Pessimistic Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its target price cut by research analysts at Truist Financial from $265.00 to $230.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the e-commerce giant’s stock. Truist Financial’s target price points to a potential upside of 24.41% from the company’s current price.

Other analysts also recently issued research reports about the company. Sanford C. Bernstein lifted their target price on Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. JMP Securities set a $285.00 price objective on shares of Amazon.com in a report on Thursday, March 27th. Royal Bank of Canada boosted their target price on shares of Amazon.com from $255.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Jefferies Financial Group cut their target price on shares of Amazon.com from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Wedbush reiterated an “outperform” rating and issued a $280.00 price target on shares of Amazon.com in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.19.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $184.87 on Thursday. The company has a market capitalization of $1.96 trillion, a P/E ratio of 33.43, a P/E/G ratio of 1.50 and a beta of 1.39. Amazon.com has a 1-year low of $151.61 and a 1-year high of $242.52. The firm’s 50 day simple moving average is $204.23 and its two-hundred day simple moving average is $208.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Research analysts expect that Amazon.com will post 6.31 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 27,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the transaction, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $26,647,456.60. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,798 shares of company stock valued at $23,341,803. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently made changes to their positions in AMZN. Rench Wealth Management Inc. grew its holdings in Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after acquiring an additional 3,703 shares in the last quarter. Blankinship & Foster LLC boosted its stake in shares of Amazon.com by 216.4% during the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after purchasing an additional 4,740 shares in the last quarter. Umpqua Bank increased its holdings in Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after buying an additional 137 shares during the period. One Wealth Capital Management LLC bought a new position in Amazon.com in the fourth quarter worth approximately $4,270,000. Finally, Floyd Financial Group LLC purchased a new stake in Amazon.com during the fourth quarter worth $4,494,000. 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.