Amazon.com (NASDAQ:AMZN) Earns Buy Rating from Royal Bank Of Canada

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reiterated by equities research analysts at Royal Bank Of Canada in a research note issued to investors on Tuesday,MarketScreener Latest Ratings reports. They presently have a $300.00 target price on the e-commerce giant’s stock. Royal Bank Of Canada’s price target points to a potential upside of 29.10% from the stock’s current price.

A number of other brokerages have also commented on AMZN. Wells Fargo & Company reissued an “overweight” rating and set a $295.00 price target (up from $292.00) on shares of Amazon.com in a report on Tuesday. Sanford C. Bernstein set a $300.00 target price on shares of Amazon.com and gave the company an “outperform” rating in a research report on Friday, October 31st. DA Davidson raised their target price on shares of Amazon.com from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Pivotal Research boosted their price target on shares of Amazon.com from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, KeyCorp increased their price objective on shares of Amazon.com from $300.00 to $303.00 and gave the company an “overweight” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifty-seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $296.11.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $232.38 on Tuesday. Amazon.com has a 1-year low of $161.38 and a 1-year high of $258.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 0.80. The business’s fifty day moving average price is $228.17 and its two-hundred day moving average price is $223.61. The firm has a market capitalization of $2.48 trillion, a PE ratio of 32.82, a P/E/G ratio of 1.61 and a beta of 1.37.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.38. The company had revenue of $180.17 billion during the quarter, compared to the consensus estimate of $177.53 billion. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 earnings per share. On average, research analysts expect that Amazon.com will post 6.31 EPS for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 22,000 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $250.03, for a total value of $5,500,660.00. Following the completion of the sale, the chief executive officer owned 493,507 shares of the company’s stock, valued at $123,391,555.21. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew S. Garman sold 17,768 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $216.90, for a total value of $3,853,879.20. Following the completion of the transaction, the chief executive officer directly owned 6,273 shares in the company, valued at $1,360,613.70. The trade was a 73.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 82,234 shares of company stock valued at $19,076,767. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Amazon.com by 2.1% during the second quarter. Vanguard Group Inc. now owns 849,721,601 shares of the e-commerce giant’s stock worth $186,420,422,000 after acquiring an additional 17,447,045 shares in the last quarter. State Street Corp increased its position in shares of Amazon.com by 2.0% during the 3rd quarter. State Street Corp now owns 381,681,441 shares of the e-commerce giant’s stock worth $83,805,794,000 after purchasing an additional 7,584,156 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Amazon.com by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 216,717,657 shares of the e-commerce giant’s stock worth $47,332,625,000 after purchasing an additional 3,721,658 shares in the last quarter. Kingstone Capital Partners Texas LLC lifted its holdings in Amazon.com by 542,733.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant’s stock valued at $29,100,194,000 after purchasing an additional 132,616,953 shares during the last quarter. Finally, Norges Bank acquired a new position in Amazon.com in the second quarter valued at about $27,438,011,000. Institutional investors and hedge funds 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.