Amazon.com (NASDAQ:AMZN) Earns Outperform Rating from Telsey Advisory Group

Key Points

• Telsey Advisory Group has reaffirmed an "outperform" rating for Amazon.com (NASDAQ:AMZN) and set a price target of $265.00, indicating a potential upside of 17.96%.
• Amazon reported $1.68 earnings per share for the recent quarter, exceeding analysts' expectations of $1.31 per share, with revenue reaching $167.70 billion.
• Major institutional and hedge fund investors are actively buying shares of Amazon, with 72.20% of the stock currently held by these entities.

Amazon.com (NASDAQ:AMZN)'s stock had its "outperform" rating reaffirmed by equities researchers at Telsey Advisory Group in a research note issued on Wednesday,Benzinga reports. They presently have a $265.00 target price on the e-commerce giant's stock. Telsey Advisory Group's price target would indicate a potential upside of 17.96% from the company's previous close.

AMZN has been the subject of several other research reports. Robert W. Baird upped their price target on Amazon.com from $220.00 to $244.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Jefferies Financial Group upped their price objective on Amazon.com from $255.00 to $265.00 in a research note on Wednesday, July 16th. JMP Securities restated a "market outperform" rating and set a $285.00 price target on shares of Amazon.com in a research report on Friday, August 1st. Barclays increased their price target on Amazon.com from $240.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Amazon.com from $230.00 to $266.00 in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $262.45.

Amazon.com Price Performance

Shares of Amazon.com stock traded up $3.19 during trading on Wednesday, hitting $224.66. The stock had a trading volume of 36,440,698 shares, compared to its average volume of 44,871,797. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The firm has a market cap of $2.40 trillion, a P/E ratio of 34.25, a PEG ratio of 1.49 and a beta of 1.31. The business has a fifty day moving average of $220.25 and a two-hundred day moving average of $208.61. Amazon.com has a fifty-two week low of $161.38 and a fifty-two week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. The business had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The firm's revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. On average, sell-side analysts expect that Amazon.com will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the transaction, the insider directly owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 25,101,037 shares of company stock worth $5,674,726,368. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amazon.com

Several institutional investors and hedge funds have recently bought and sold shares of the company. Castlekeep Investment Advisors LLC bought a new stake in Amazon.com in the 4th quarter worth $25,000. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com during the 4th quarter valued at about $27,000. Carderock Capital Management Inc. bought a new stake in shares of Amazon.com during the 2nd quarter valued at about $27,000. LSV Asset Management bought a new stake in shares of Amazon.com during the 4th quarter valued at about $35,000. Finally, Cooksen Wealth LLC bought a new stake in shares of Amazon.com during the 1st quarter valued at about $36,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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.

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