Amazon.com (NASDAQ:AMZN) Price Target Raised to $240.00 at Royal Bank Of Canada

Key Points

• Analysts at Royal Bank of Canada raised Amazon.com's price target from $230.00 to $240.00, indicating an 11.50% potential upside from the stock's current price.
• Amazon.com recently reported earnings of $1.68 per share, surpassing expectations and demonstrating a 13.3% year-over-year revenue increase.
• Institutional investors and hedge funds own 72.20% of Amazon.com's stock, reflecting strong institutional confidence in the company's growth prospects.

Amazon.com (NASDAQ:AMZN) had its price target lifted by stock analysts at Royal Bank Of Canada from $230.00 to $240.00 in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has an "outperform" rating on the e-commerce giant's stock. Royal Bank Of Canada's price target suggests a potential upside of 11.76% from the stock's current price.

Other analysts have also issued research reports about the stock. Sanford C. Bernstein set a $235.00 price target on shares of Amazon.com and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Telsey Advisory Group boosted their target price on Amazon.com from $235.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday. Canaccord Genuity Group reissued a "buy" rating and issued a $280.00 target price on shares of Amazon.com in a research report on Friday. BNP Paribas Exane raised Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 target price on the stock in a research report on Friday, June 27th. Finally, Wells Fargo & Company boosted their target price on Amazon.com from $238.00 to $245.00 and gave the company an "equal weight" rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, forty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of "Buy" and an average target price of $260.85.

Amazon.com Trading Down 8.3%

Shares of AMZN stock traded down $19.36 during trading on Friday, hitting $214.75. 122,007,379 shares of the stock traded hands, compared to its average volume of 37,811,656. The firm has a market capitalization of $2.28 trillion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 1.74 and a beta of 1.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The firm's fifty day moving average price is $218.20 and its 200-day moving average price is $209.21. Amazon.com has a 52-week low of $151.61 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating the consensus estimate of $1.31 by $0.37. The firm had revenue of $167.70 billion for 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 24.90%. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 EPS. As a group, research analysts forecast that Amazon.com will post 6.31 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 25,099,537 shares of company stock valued at $5,674,394,548 over the last three months. Company insiders own 9.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Amazon.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock valued at $158,348,557,000 after buying an additional 8,913,959 shares in the last quarter. FMR LLC grew its position in shares of Amazon.com by 0.5% in the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock valued at $72,061,766,000 after purchasing an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock valued at $44,837,256,000 after purchasing an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Amazon.com by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock valued at $40,107,544,000 after purchasing an additional 4,087,933 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC grew its position in shares of Amazon.com by 542,733.6% in the second 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 purchasing an additional 132,616,953 shares during the last quarter. 72.20% of the stock is 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.