Amazon.com (NASDAQ:AMZN) Given New $303.00 Price Target at Bank of America

Amazon.com (NASDAQ:AMZN) had its price objective hoisted by stock analysts at Bank of America from $272.00 to $303.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the e-commerce giant’s stock. Bank of America‘s target price indicates a potential upside of 31.01% from the company’s current price.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets restated an “outperform” rating and set a $300.00 price objective on shares of Amazon.com in a research report on Friday, October 31st. Telsey Advisory Group boosted their target price on Amazon.com from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. HSBC increased their price target on Amazon.com from $260.00 to $285.00 and gave the company a “buy” rating in a report on Friday, October 31st. Canaccord Genuity Group set a $300.00 price objective on shares of Amazon.com and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Amazon.com from $269.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $296.11.

Amazon.com Price Performance

AMZN stock traded down $3.15 during trading on Wednesday, hitting $231.27. 8,575,360 shares of the company’s stock traded hands, compared to its average volume of 45,096,223. Amazon.com has a 52 week low of $161.38 and a 52 week high of $258.60. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 32.68, a P/E/G ratio of 1.61 and a beta of 1.37. The business has a fifty day simple moving average of $227.92 and a 200 day simple moving average of $223.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.80 and a current ratio of 1.01.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.38. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The firm had revenue of $180.17 billion for the quarter, compared to analysts’ expectations of $177.53 billion. During the same period in the prior year, the company earned $1.43 EPS. The business’s revenue was up 13.4% compared to the same quarter last year. As a group, research analysts expect that Amazon.com will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 4,784 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $232.71, for a total value of $1,113,284.64. Following the completion of the sale, the chief executive officer owned 498,182 shares in the company, valued at approximately $115,931,933.22. The trade was a 0.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew S. Garman sold 17,768 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $216.90, for a total value of $3,853,879.20. Following the completion of the transaction, the chief executive officer directly owned 6,273 shares in the company, valued at approximately $1,360,613.70. This trade represents a 73.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 79,734 shares of company stock worth $18,493,717 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amazon.com

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Amazon.com by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 849,721,601 shares of the e-commerce giant’s stock worth $186,420,422,000 after purchasing an additional 17,447,045 shares during the period. State Street Corp raised its stake in Amazon.com by 2.0% in the third quarter. State Street Corp now owns 381,681,441 shares of the e-commerce giant’s stock worth $83,805,794,000 after buying an additional 7,584,156 shares in the last quarter. Geode Capital Management LLC raised its stake in Amazon.com by 1.7% in the second quarter. Geode Capital Management LLC now owns 216,717,657 shares of the e-commerce giant’s stock worth $47,332,625,000 after buying an additional 3,721,658 shares in the last quarter. Kingstone Capital Partners Texas LLC lifted its holdings in Amazon.com by 542,733.6% during the second quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant’s stock worth $29,100,194,000 after buying an additional 132,616,953 shares during the period. Finally, Norges Bank bought a new stake in Amazon.com during the 2nd quarter valued at $27,438,011,000. 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.