Rosenblatt Securities Reaffirms Buy Rating for Amazon.com (NASDAQ:AMZN)

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reiterated by analysts at Rosenblatt Securities in a report released on Thursday,Benzinga reports. They presently have a $305.00 target price on the e-commerce giant’s stock. Rosenblatt Securities’ target price indicates a potential upside of 32.88% from the stock’s current price.

Several other research firms have also recently weighed in on AMZN. Susquehanna set a $300.00 price target on shares of Amazon.com and gave the company a “positive” rating in a report on Friday, October 31st. BNP Paribas Exane initiated coverage on Amazon.com in a research report on Monday, November 24th. They issued an “outperform” rating on the stock. Citigroup reiterated an “overweight” rating on shares of Amazon.com in a research note on Wednesday, November 26th. HSBC boosted their price target on Amazon.com from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, KeyCorp increased their price objective on Amazon.com from $300.00 to $303.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. One 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $295.93.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $229.53 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.80 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.45 trillion, a P/E ratio of 32.42, a P/E/G ratio of 1.58 and a beta of 1.37. Amazon.com has a 12 month low of $161.38 and a 12 month high of $258.60. The stock has a 50 day moving average of $228.58 and a 200-day moving average of $223.81.

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. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The business had revenue of $180.17 billion during the quarter, compared to the consensus estimate of $177.53 billion. During the same quarter last year, the firm posted $1.43 EPS. The company’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts predict that Amazon.com will post 6.31 EPS for the current year.

Insider Buying and Selling

In other news, CEO Matthew S. Garman sold 17,768 shares of the company’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 transaction of $3,853,879.20. Following the completion of the sale, the chief executive officer owned 6,273 shares of the company’s stock, valued at approximately $1,360,613.70. This represents a 73.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Rubinstein sold 8,173 shares of Amazon.com stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $250.03, for a total transaction of $2,043,495.19. Following the completion of the transaction, the director directly owned 80,030 shares in the company, valued at $20,009,900.90. This trade represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 82,234 shares of company stock worth $19,076,767. 9.70% of the stock is owned by company insiders.

Institutional Trading of Amazon.com

Several large investors have recently bought and sold shares of AMZN. Barlow Wealth Partners Inc. increased its holdings in shares of Amazon.com by 0.4% during the second quarter. Barlow Wealth Partners Inc. now owns 12,565 shares of the e-commerce giant’s stock valued at $2,763,000 after acquiring an additional 44 shares in the last quarter. Ridgecrest Wealth Partners LLC grew its position in Amazon.com by 0.5% in the 2nd quarter. Ridgecrest Wealth Partners LLC now owns 8,399 shares of the e-commerce giant’s stock valued at $1,843,000 after purchasing an additional 45 shares during the period. Probity Advisors Inc. grew its position in Amazon.com by 0.4% in the 2nd quarter. Probity Advisors Inc. now owns 12,157 shares of the e-commerce giant’s stock valued at $2,667,000 after purchasing an additional 45 shares during the period. Union Savings Bank increased its stake in Amazon.com by 0.4% during the 2nd quarter. Union Savings Bank now owns 10,723 shares of the e-commerce giant’s stock valued at $2,510,000 after purchasing an additional 45 shares in the last quarter. Finally, Doheny Asset Management CA raised its holdings in Amazon.com by 0.3% during the second quarter. Doheny Asset Management CA now owns 17,821 shares of the e-commerce giant’s stock worth $3,910,000 after buying an additional 45 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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.