Amazon.com’s (AMZN) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research report sent to investors on Friday morning,Benzinga reports. Needham & Company LLC currently has a $220.00 price target on the e-commerce giant’s stock.

AMZN has been the topic of several other research reports. Bank of America cut their price target on Amazon.com from $257.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Scotiabank cut their target price on Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Citizens Jmp dropped their price objective on shares of Amazon.com from $285.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Citigroup reduced their target price 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. Finally, Truist Financial decreased their target price 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 research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.55.

Amazon.com Stock Performance

Shares of AMZN opened at $189.98 on Friday. The stock has a market capitalization 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 business’s fifty day moving average price is $190.48 and its 200 day moving average price is $208.06. 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 12-month low of $151.61 and a 12-month high of $242.52.

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

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 27,500 shares of the business’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 value of $6,332,425.00. Following the completion of the sale, the chief executive officer now directly owns 497,067 shares in the company, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.65, for a total value of $4,585,989.60. Following the transaction, the chief executive officer now owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,798 shares of company stock valued at $23,341,803. 10.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMZN. Castlekeep Investment Advisors LLC bought a new stake in shares of Amazon.com in the fourth quarter valued at approximately $25,000. Accordant Advisory Group Inc raised its stake in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Prudent Man Investment Management Inc. bought a new stake in Amazon.com in the 4th quarter valued at $27,000. Icon Wealth Advisors LLC grew its position in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the last quarter. Finally, LSV Asset Management bought a new position in shares of Amazon.com during the 4th quarter worth about $35,000. 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.