Amazon.com (NASDAQ:AMZN) Price Target Cut to $230.00 by Analysts at Royal Bank of Canada

Amazon.com (NASDAQ:AMZN) had its price objective lowered by Royal Bank of Canada from $235.00 to $230.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the e-commerce giant's stock.

A number of other brokerages also recently commented on AMZN. Cantor Fitzgerald raised their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday. Morgan Stanley decreased their price target on Amazon.com from $280.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Barclays cut their price objective on Amazon.com from $265.00 to $240.00 and set an "overweight" rating for the company in a research report on Friday. Bank of America lowered their price target on shares of Amazon.com from $257.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Raymond James reiterated an "outperform" rating and issued a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Four research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. According to data from MarketBeat, Amazon.com has an average rating of "Moderate Buy" and a consensus price target of $244.09.

Amazon.com Stock Performance

NASDAQ AMZN traded down $1.34 during trading hours on Friday, hitting $185.01. The company had a trading volume of 28,288,774 shares, compared to its average volume of 41,615,234. The business has a 50 day moving average of $189.92 and a 200-day moving average of $208.04. The company has a market cap of $1.96 trillion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. Amazon.com has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analysts' expectations of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. As a group, equities research analysts expect that Amazon.com will post 6.31 EPS for the current year.

Insider Buying and Selling at Amazon.com

In related news, SVP David Zapolsky sold 19,212 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the completion of the sale, the senior vice president now directly owns 49,950 shares in the company, valued at approximately $10,864,125. The trade was a 27.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $190.67, for a total value of $476,675.00. Following the transaction, the chief executive officer now owns 506,974 shares in the company, valued at approximately $96,664,732.58. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,298 shares of company stock worth $23,818,478 over the last ninety days. 9.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

Institutional investors have recently made changes to their positions in the business. Cable Hill Partners LLC lifted its stake in shares of Amazon.com by 0.5% in the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock valued at $2,104,000 after acquiring an additional 44 shares during the last quarter. Quattro Financial Advisors LLC increased its stake in Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after purchasing an additional 45 shares during the period. Northern Capital Management Inc. lifted its position in Amazon.com by 0.6% in the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock valued at $1,613,000 after purchasing an additional 45 shares during the last quarter. White Wing Wealth Management boosted its stake in shares of Amazon.com by 2.4% during the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock valued at $433,000 after purchasing an additional 47 shares during the period. Finally, MBM Wealth Consultants LLC grew its holdings in shares of Amazon.com by 0.6% in the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant's stock worth $1,889,000 after purchasing an additional 48 shares during the last quarter. 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.