Amazon.com (NASDAQ:AMZN) Price Target Raised to $3,400.00

Amazon.com (NASDAQ:AMZN) had its target price boosted by SunTrust Banks from $2,700.00 to $3,400.00 in a report issued on Friday morning, BenzingaRatingsTable reports. They currently have a buy rating on the e-commerce giant’s stock.

Other analysts also recently issued research reports about the stock. Guggenheim lifted their target price on shares of Amazon.com from $2,250.00 to $2,700.00 and gave the company a buy rating in a report on Friday, May 1st. DZ Bank reissued a buy rating on shares of Amazon.com in a research report on Wednesday, April 15th. Credit Suisse Group cut their price target on Amazon.com from $2,800.00 to $2,760.00 and set an outperform rating on the stock in a report on Friday, May 1st. Needham & Company LLC began coverage on Amazon.com in a research report on Wednesday, June 24th. They set a buy rating and a $3,200.00 price objective for the company. Finally, MKM Partners raised their target price on shares of Amazon.com from $2,500.00 to $2,525.00 and gave the company a buy rating in a report on Friday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and forty-seven have given a buy rating to the stock. Amazon.com has an average rating of Buy and a consensus target price of $2,658.55.

Shares of Amazon.com stock opened at $2,680.38 on Friday. Amazon.com has a fifty-two week low of $1,626.03 and a fifty-two week high of $2,796.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.08. The firm has a market capitalization of $1,336.92 billion, a price-to-earnings ratio of 128.06, a PEG ratio of 5.49 and a beta of 1.31. The stock has a 50 day moving average of $2,522.21 and a 200 day moving average of $2,124.25.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, April 30th. The e-commerce giant reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.36 by ($1.35). Amazon.com had a return on equity of 17.83% and a net margin of 3.56%. The business had revenue of $75.45 billion for the quarter, compared to analyst estimates of $74.15 billion. During the same period in the previous year, the business posted $7.09 earnings per share. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. Analysts forecast that Amazon.com will post 20.02 EPS for the current year.

In other news, Director Patricia Q. Stonesifer sold 2,200 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $2,329.44, for a total transaction of $5,124,768.00. Following the completion of the sale, the director now directly owns 4,645 shares in the company, valued at approximately $10,820,248.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew R. Jassy sold 6,945 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $2,256.50, for a total value of $15,671,392.50. Following the completion of the transaction, the chief executive officer now directly owns 93,105 shares in the company, valued at $210,091,432.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,497 shares of company stock valued at $21,605,827. 16.10% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. acquired a new stake in Amazon.com during the 1st quarter worth approximately $294,639,000. Wealth Quarterback LLC acquired a new position in Amazon.com during the fourth quarter valued at approximately $2,313,511,000. Geode Capital Management LLC grew its stake in Amazon.com by 2.5% during the first quarter. Geode Capital Management LLC now owns 6,048,684 shares of the e-commerce giant’s stock worth $11,768,454,000 after buying an additional 147,641 shares during the period. Capital International Investors increased its position in shares of Amazon.com by 7.3% in the first quarter. Capital International Investors now owns 4,599,769 shares of the e-commerce giant’s stock worth $8,968,262,000 after acquiring an additional 312,549 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Amazon.com by 10.7% in the 1st quarter. Capital Research Global Investors now owns 4,501,995 shares of the e-commerce giant’s stock valued at $8,777,634,000 after acquiring an additional 435,331 shares during the period. Institutional investors own 64.65% of the company’s stock.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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