Bank of America Increases Amazon.com (NASDAQ:AMZN) Price Target to $220.00

Amazon.com (NASDAQ:AMZN) had its target price hoisted by Bank of America from $210.00 to $220.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the e-commerce giant’s stock.

A number of other analysts have also commented on the company. UBS Group lifted their price target on Amazon.com from $215.00 to $217.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Tigress Financial lifted their target price on shares of Amazon.com from $210.00 to $245.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Oppenheimer upped their price target on shares of Amazon.com from $210.00 to $220.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Monness Crespi & Hardt lifted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Finally, Rosenblatt Securities reissued a buy rating and issued a $220.00 price objective on shares of Amazon.com in a research note on Wednesday, May 1st. One analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of Buy and an average price target of $215.86.

Amazon.com Price Performance

AMZN stock opened at $193.25 on Wednesday. The stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 54.13, a P/E/G ratio of 1.42 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. The company has a 50 day simple moving average of $183.87 and a 200 day simple moving average of $173.11. Amazon.com has a 1 year low of $118.35 and a 1 year high of $199.84.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The company had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. During the same period in the prior year, the business earned $0.31 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Research analysts anticipate that Amazon.com will post 4.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the sale, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the completion of the sale, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $181.38, for a total value of $90,690.00. Following the completion of the sale, the chief executive officer now directly owns 130,600 shares of the company’s stock, valued at approximately $23,688,228. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,338 shares of company stock worth $11,894,344. 10.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Amazon.com

Hedge funds and other institutional investors have recently bought and sold shares of the business. Collective Family Office LLC lifted its holdings in shares of Amazon.com by 9.7% in the first quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock worth $1,674,000 after buying an additional 819 shares in the last quarter. Members Trust Co lifted its stake in Amazon.com by 8.9% in the 4th quarter. Members Trust Co now owns 4,157 shares of the e-commerce giant’s stock worth $638,000 after purchasing an additional 341 shares in the last quarter. Cherrydale Wealth Management LLC boosted its holdings in Amazon.com by 14.7% in the 4th quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock valued at $799,000 after purchasing an additional 675 shares during the period. Tompkins Financial Corp grew its position in shares of Amazon.com by 3.3% during the 4th quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock valued at $10,875,000 after purchasing an additional 2,273 shares in the last quarter. Finally, Nicholas Company Inc. increased its holdings in shares of Amazon.com by 3.9% in the third quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock worth $89,628,000 after purchasing an additional 26,465 shares during the period. 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.