Amazon.com (NASDAQ:AMZN) Receives “Buy” Rating from Rosenblatt Securities

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a report issued on Thursday,Benzinga reports. They currently have a $305.00 price target on the e-commerce giant’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 33.78% from the company’s current price.

A number of other equities research analysts have also commented on the company. DZ Bank reaffirmed a “buy” rating on shares of Amazon.com in a research report on Friday, October 31st. CICC Research lifted their price target on shares of Amazon.com from $240.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. CIBC upped their price target on shares of Amazon.com to $315.00 in a report on Monday, October 20th. Stifel Nicolaus increased their price objective on shares of Amazon.com from $269.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Amazon.com in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fifty-seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $296.11.

Amazon.com Trading Down 1.9%

Amazon.com stock traded down $4.39 during midday trading on Thursday, hitting $227.99. 24,370,306 shares of the stock were exchanged, compared to its average volume of 45,128,805. The stock has a market capitalization of $2.44 trillion, a PE ratio of 32.20, a P/E/G ratio of 1.61 and a beta of 1.37. The company has a fifty day simple moving average of $228.17 and a two-hundred day simple moving average of $223.61. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. Amazon.com has a 52 week low of $161.38 and a 52 week high of $258.60.

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

Insider Activity

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $226.61, for a total transaction of $280,316.57. Following the sale, the director directly owned 26,148 shares of the company’s stock, valued at approximately $5,925,398.28. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 22,000 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $250.03, for a total transaction of $5,500,660.00. Following the completion of the sale, the chief executive officer owned 493,507 shares of the company’s stock, valued at approximately $123,391,555.21. This represents a 4.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 82,234 shares of company stock worth $19,076,767. Corporate insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds have recently bought and sold shares of the company. Fairway Wealth LLC boosted its position in Amazon.com by 113.2% during the third quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant’s stock worth $25,000 after purchasing an additional 60 shares during the period. Carderock Capital Management Inc. bought a new stake in shares of Amazon.com during the 2nd quarter worth about $27,000. Sellwood Investment Partners LLC bought a new stake in shares of Amazon.com during the 3rd quarter worth about $27,000. Maryland Capital Advisors Inc. grew its stake in Amazon.com by 81.9% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock valued at $46,000 after buying an additional 95 shares during the last quarter. Finally, Ryan Investment Management Inc. bought a new position in Amazon.com in the 2nd quarter valued at about $48,000. 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.