Amazon.com (NASDAQ:AMZN) Price Target Raised to $288.00

Amazon.com (NASDAQ:AMZN) had its price target upped by Rosenblatt Securities from $287.00 to $288.00 in a research note released on Friday,Benzinga reports. The firm currently has a buy rating on the e-commerce giant’s stock.

Several other research analysts also recently commented on the company. Phillip Securities downgraded Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 10th. Citigroup reduced their price objective on shares of Amazon.com from $273.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, April 14th. BNP Paribas upgraded shares of Amazon.com to a “hold” rating in a research note on Wednesday, April 30th. Oppenheimer reduced their price target on shares of Amazon.com from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Finally, Wedbush reiterated an “outperform” rating and issued a $280.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.55.

Read Our Latest Research Report on AMZN

Amazon.com Price Performance

NASDAQ AMZN opened at $189.98 on Friday. The company has a market cap of $2.02 trillion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm’s 50-day simple moving average is $190.48 and its two-hundred day simple moving average is $208.06. Amazon.com has a 52 week low of $151.61 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZNGet Free Report) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The company had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Amazon.com’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. Research analysts predict that Amazon.com will post 6.31 earnings per share for the current year.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 27,500 shares of the company’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 value of $6,332,425.00. Following the transaction, the chief executive officer now owns 497,067 shares in the company, valued at approximately $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP David Zapolsky sold 19,212 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the completion of the transaction, the senior vice president now directly owns 49,950 shares of the company’s stock, valued at approximately $10,864,125. This trade represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,798 shares of company stock valued at $23,341,803 in the last three months. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after buying an additional 17,635,391 shares in the last quarter. State Street Corp lifted its stake in shares of Amazon.com by 3.3% during the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after acquiring an additional 11,370,309 shares during the last quarter. FMR LLC lifted its position in shares of Amazon.com by 0.5% during the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock worth $72,061,766,000 after purchasing an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC boosted its position in Amazon.com by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after buying an additional 5,015,380 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Amazon.com by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock valued at $40,107,544,000 after purchasing an additional 4,087,933 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

About Amazon.com

(Get Free Report)

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.

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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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