Redburn Atlantic Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its target price hoisted by Redburn Atlantic from $225.00 to $235.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

A number of other equities research analysts have also commented on the stock. Evercore ISI upped their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $236.00 price target (up previously from $230.00) on shares of Amazon.com in a research report on Friday, November 1st. Wedbush lifted their price objective on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Oppenheimer upped their target price on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group lifted their target price on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $236.20.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $207.89 on Tuesday. The stock has a market cap of $2.19 trillion, a price-to-earnings ratio of 44.52, a P/E/G ratio of 1.38 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com has a twelve month low of $142.81 and a twelve month high of $215.90. The company’s fifty day moving average is $194.78 and its 200 day moving average is $186.94.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Sell-side analysts forecast that Amazon.com will post 5.29 EPS for the current year.

Insider Buying and Selling

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the transaction, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the company’s 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 sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,026,683 shares of company stock valued at $1,252,148,795. 10.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. PayPay Securities Corp lifted its holdings in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new position in Amazon.com during the third quarter valued at approximately $37,000. Bull Oak Capital LLC purchased a new stake in Amazon.com in the 3rd quarter worth approximately $45,000. Christopher J. Hasenberg Inc boosted its holdings 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 purchasing an additional 260 shares during the period. Finally, Values First Advisors Inc. purchased a new position in shares of Amazon.com during the 3rd quarter valued at $56,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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.