Amazon.com (NASDAQ:AMZN) Given New $255.00 Price Target at JPMorgan Chase & Co.

Amazon.com (NASDAQ:AMZN) had its price target increased by analysts at JPMorgan Chase & Co. from $240.00 to $255.00 in a research note issued to investors on Friday, Marketbeat reports. The firm currently has an "overweight" rating on the e-commerce giant's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 12.99% from the company's current price.

A number of other brokerages also recently weighed in on AMZN. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Amazon.com from $287.00 to $206.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Citizens Jmp initiated coverage on Amazon.com in a research report on Thursday. They issued a "strong-buy" rating for the company. Stifel Nicolaus dropped their price objective on Amazon.com from $248.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Rosenblatt Securities raised their target price on Amazon.com from $287.00 to $288.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Truist Financial boosted their price target on Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $249.42.

Amazon.com Price Performance

NASDAQ AMZN traded up $0.67 during trading on Friday, hitting $225.69. 35,675,194 shares of the company's stock were exchanged, compared to its average volume of 42,109,589. The company has a market cap of $2.40 trillion, a PE ratio of 36.76, a P/E/G ratio of 1.69 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. Amazon.com has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The stock's 50 day moving average price is $209.90 and its two-hundred day moving average price is $208.36.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same period in the prior year, the company posted $0.98 EPS. The company's revenue was up 8.6% on a year-over-year basis. Research analysts expect that Amazon.com will post 6.31 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Matthew S. Garman sold 20,923 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,211,799.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David Zapolsky sold 13,570 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total value of $2,746,703.70. Following the completion of the transaction, the senior vice president owned 47,030 shares of the company's stock, valued at $9,519,342.30. This represents a 22.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,886,613 shares of company stock worth $1,531,840,610. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Advisory Solutions LLC increased its position in Amazon.com by 1.1% in the second quarter. Wealth Advisory Solutions LLC now owns 58,866 shares of the e-commerce giant's stock worth $12,915,000 after purchasing an additional 644 shares during the last quarter. Seek First Inc. boosted its position in Amazon.com by 0.5% in the 2nd quarter. Seek First Inc. now owns 9,156 shares of the e-commerce giant's stock valued at $2,009,000 after buying an additional 50 shares during the period. CHICAGO TRUST Co NA grew its stake in Amazon.com by 19.0% in the second quarter. CHICAGO TRUST Co NA now owns 59,203 shares of the e-commerce giant's stock worth $12,989,000 after purchasing an additional 9,446 shares in the last quarter. Opal Wealth Advisors LLC increased its stake in shares of Amazon.com by 18.9% during the second quarter. Opal Wealth Advisors LLC now owns 13,161 shares of the e-commerce giant's stock valued at $2,887,000 after buying an additional 2,088 shares during the period. Finally, Avalon Advisory Group purchased a new stake in shares of Amazon.com in the 2nd quarter worth approximately $226,000. Institutional investors own 72.20% of the company's stock.

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.