Cantor Fitzgerald Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its price objective increased by stock analysts at Cantor Fitzgerald from $230.00 to $240.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the e-commerce giant’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 26.33% from the company’s previous close.

A number of other brokerages also recently issued reports on AMZN. DA Davidson cut their price objective on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Bank of America reduced their price target on Amazon.com from $257.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on Amazon.com from $287.00 to $206.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. JMP Securities reissued a “market outperform” rating and issued a $240.00 target price on shares of Amazon.com in a report on Thursday. Finally, Truist Financial dropped their price target on shares of Amazon.com from $265.00 to $230.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.55.

Amazon.com Price Performance

NASDAQ AMZN opened at $189.98 on Friday. 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 has a 1-year low of $151.61 and a 1-year high of $242.52. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 34.35, a PEG ratio of 1.50 and a beta of 1.39. The business’s fifty day moving average price is $190.48 and its 200-day moving average price is $207.92.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. During the same period last year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts predict that Amazon.com will post 6.31 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $220.65, for a total value of $4,585,989.60. Following the completion of the transaction, the chief executive officer now directly owns 2,118,886 shares of the company’s stock, valued at approximately $467,532,195.90. The trade was a 0.97 % 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, CEO Douglas J. Herrington sold 27,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the sale, the chief executive officer now directly owns 497,067 shares in the company, valued at $114,459,618.09. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,798 shares of company stock worth $23,341,803. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Amazon.com in the fourth quarter valued at approximately $27,266,582,000. GAMMA Investing LLC raised its position in Amazon.com by 21,420.5% during the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock worth $5,754,425,000 after acquiring an additional 30,104,520 shares during the period. Capital World Investors lifted its holdings in Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in shares of Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after purchasing an additional 12,018,120 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.