JMP Securities Reiterates "Market Outperform" Rating for Amazon.com (NASDAQ:AMZN)

Key Points

• JMP Securities has reaffirmed Amazon.com's stock rating as "market outperform," setting a price target of $285.00, indicating a potential upside of 30.79% from its previous close.
• Amazon reported earnings of $1.68 EPS for the last quarter, exceeding expectations of $1.31, with revenue reaching $167.70 billion, a year-over-year increase of 13.3%.
• The stock has a current average rating of "Moderate Buy" with a consensus target price of $259.08, supported by multiple buy ratings from various research analysts.

JMP Securities reiterated their market outperform rating on shares of Amazon.com (NASDAQ:AMZN) in a report released on Friday morning,Benzinga reports. They currently have a $285.00 target price on the e-commerce giant's stock.

Several other equities research analysts have also recently weighed in on AMZN. Tigress Financial upped their price objective on shares of Amazon.com from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. BNP Paribas raised shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Piper Sandler upped their price objective on shares of Amazon.com from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday. Oppenheimer upped their price objective on shares of Amazon.com from $215.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Finally, Telsey Advisory Group upped their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of "Buy" and an average price target of $262.45.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN traded down $3.10 on Friday, hitting $211.65. The company had a trading volume of 77,647,898 shares, compared to its average volume of 45,070,262. The stock has a 50 day moving average price of $218.20 and a 200 day moving average price of $209.03. The stock has a market cap of $2.25 trillion, a price-to-earnings ratio of 32.26, a P/E/G ratio of 1.57 and a beta of 1.31. Amazon.com has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15.

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

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 25,099,537 shares of company stock valued at $5,674,394,548 over the last 90 days. 9.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Several large investors have recently bought and sold shares of AMZN. Kingstone Capital Partners Texas LLC lifted its stake in Amazon.com by 542,733.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant's stock valued at $29,100,194,000 after acquiring an additional 132,616,953 shares in the last quarter. Norges Bank bought a new position in Amazon.com during the 4th quarter valued at $27,266,582,000. Nuveen LLC bought a new stake in shares of Amazon.com during the 1st quarter worth $11,674,091,000. GAMMA Investing LLC raised its stake in shares of Amazon.com by 21,420.5% during the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock worth $5,754,425,000 after purchasing an additional 30,104,520 shares during the period. Finally, Capital World Investors raised its stake in shares of Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock worth $14,416,078,000 after purchasing an additional 17,681,004 shares during the period. 72.20% of the stock is currently owned by 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.