Amazon.com (NASDAQ:AMZN) Price Target Raised to $246.00 at Scotiabank

Amazon.com (NASDAQ:AMZN) had its target price boosted by Scotiabank from $245.00 to $246.00 in a report issued on Friday morning, Benzinga reports. They currently have a sector outperform rating on the e-commerce giant’s stock.

AMZN has been the subject of several other research reports. Wedbush reiterated an “outperform” rating and issued a $225.00 target price on shares of Amazon.com in a report on Friday, August 2nd. Oppenheimer lifted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday. UBS Group boosted their price target on shares of Amazon.com from $220.00 to $223.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their price target on shares of Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, The Goldman Sachs Group boosted their price target on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.11.

Amazon.com Trading Up 6.2 %

Shares of AMZN stock traded up $11.53 during trading on Friday, hitting $197.93. 99,687,847 shares of the stock traded hands, compared to its average volume of 41,329,359. Amazon.com has a 52-week low of $136.47 and a 52-week high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The firm’s fifty day moving average price is $184.82 and its 200-day moving average price is $183.75. The firm has a market capitalization of $2.08 trillion, a P/E ratio of 47.35, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its 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. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The firm had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter last year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, research analysts forecast that Amazon.com will post 4.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. 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 dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,855 shares of company stock valued at $9,215,048. Insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. PayPay Securities Corp grew its position in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP acquired a new position in Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC acquired a new stake in shares of Amazon.com in the third quarter valued at approximately $45,000. Values First Advisors Inc. acquired a new stake in shares of Amazon.com in the third quarter valued at approximately $56,000. Finally, Christopher J. Hasenberg Inc grew its position in shares of Amazon.com by 650.0% in the second 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 last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.