Shares of Amazon.com, Inc. (NASDAQ:AMZN) were up 1.2% on Thursday after Truist Financial raised their price target on the stock from $226.00 to $250.00. Truist Financial currently has a buy rating on the stock. Amazon.com traded as high as $224.01 and last traded at $222.46. Approximately 16,429,762 shares traded hands during trading, a decline of 63% from the average daily volume of 44,878,305 shares. The stock had previously closed at $219.92.
Several other research analysts have also weighed in on the stock. Bank of America increased their target price on shares of Amazon.com from $230.00 to $248.00 and gave the stock a “buy” rating in a research note on Monday, June 2nd. Cantor Fitzgerald increased their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Rosenblatt Securities increased their target price on shares of Amazon.com from $287.00 to $288.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Westpark Capital reissued a “buy” rating and issued a $280.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.60.
Check Out Our Latest Stock Analysis on AMZN
Insider Buying and Selling at Amazon.com
Hedge Funds Weigh In On Amazon.com
Hedge funds have recently modified their holdings of the business. Tallon Kerry Patrick purchased a new stake in shares of Amazon.com during the 4th quarter worth $800,000. Capital & Planning LLC boosted its position in shares of Amazon.com by 72.1% in the 4th quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant’s stock worth $856,000 after buying an additional 1,635 shares in the last quarter. LaFleur & Godfrey LLC lifted its holdings in Amazon.com by 1.8% in the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant’s stock valued at $10,839,000 after purchasing an additional 860 shares in the last quarter. Brighton Jones LLC lifted its holdings in Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after purchasing an additional 397,007 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Amazon.com in the 4th quarter valued at about $301,650,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.
Amazon.com Stock Performance
The company has a market capitalization of $2.37 trillion, a PE ratio of 36.34, a price-to-earnings-growth ratio of 1.66 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The stock’s fifty day simple moving average is $205.76 and its 200-day simple moving average is $208.76.
Amazon.com (NASDAQ:AMZN – Get Free Report) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. The company had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. As a group, equities analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.
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.
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