Amazon.com (NASDAQ:AMZN) Given New $265.00 Price Target at Truist Financial

Amazon.com (NASDAQ:AMZN) had its price target upped by Truist Financial from $230.00 to $265.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the e-commerce giant’s stock. Truist Financial’s target price suggests a potential upside of 43.14% from the company’s previous close.

AMZN has been the subject of a number of other reports. Evercore ISI upped their price target on Amazon.com from $225.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. The Goldman Sachs Group dropped their target price on Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $230.00 price objective on shares of Amazon.com in a report on Monday, September 23rd. Stifel Nicolaus reduced their target price on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, 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. One equities research analyst has rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Buy” and an average target price of $223.65.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $185.13 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. Amazon.com has a 1 year low of $118.35 and a 1 year high of $201.20. The firm has a market capitalization of $1.93 trillion, a PE ratio of 51.86, a P/E/G ratio of 1.46 and a beta of 1.14. The business’s 50 day moving average price is $178.97 and its 200-day moving average price is $182.81.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. As a group, equities research analysts expect that Amazon.com will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. The disclosure for this sale can be found here. Insiders sold 4,634,860 shares of company stock worth $926,639,482 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cooksen Wealth LLC acquired a new position in Amazon.com in the 4th quarter valued at about $30,000. PayPay Securities Corp increased its position in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Clarity Asset Management Inc. acquired a new position in shares of Amazon.com during the 4th quarter worth $46,000. Christopher J. Hasenberg Inc grew its stake 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 during the last quarter. Finally, Steph & Co. purchased a new position in Amazon.com during the 1st quarter valued at about $65,000. 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.