Amazon.com (NASDAQ:AMZN) Receives “Buy” Rating from Needham & Company LLC

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $210.00 target price on the e-commerce giant’s stock. Needham & Company LLC’s price target would indicate a potential upside of 13.81% from the company’s previous close.

A number of other research analysts have also issued reports on AMZN. Cantor Fitzgerald initiated coverage on Amazon.com in a report on Thursday, September 5th. They set an “overweight” rating and a $230.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $225.00 target price on shares of Amazon.com in a report on Friday, August 2nd. Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. Piper Sandler dropped their price target on Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Rosenblatt Securities lifted their price target on Amazon.com from $220.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $222.49.

Amazon.com Price Performance

Shares of AMZN opened at $184.52 on Thursday. The firm has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 51.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com has a one year low of $118.35 and a one year high of $201.20. The stock’s fifty day moving average is $179.99 and its 200-day moving average is $181.44.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Equities analysts anticipate that Amazon.com will post 4.86 EPS for the current year.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The disclosure for this sale can be found here. Insiders have sold a total of 6,104,317 shares of company stock valued at $1,220,621,322 in the last 90 days. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

A number of hedge funds and other institutional investors have recently made changes to their positions in AMZN. PayPay Securities Corp increased its position in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares in the last quarter. Cooksen Wealth LLC acquired a new stake in Amazon.com in the 4th quarter valued at about $30,000. Christopher J. Hasenberg Inc increased its position in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after acquiring an additional 260 shares in the last quarter. Clarity Asset Management Inc. acquired a new stake in shares of Amazon.com during the 4th quarter worth approximately $46,000. Finally, Steph & Co. acquired a new stake in shares of Amazon.com during the 1st quarter worth approximately $65,000. 72.20% of the stock is currently 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.