Amazon.com (NASDAQ:AMZN) Price Target Raised to $300.00

Amazon.com (NASDAQ:AMZN) had its price target hoisted by research analysts at Morgan Stanley from $250.00 to $300.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the e-commerce giant's stock. Morgan Stanley's target price would suggest a potential upside of 34.98% from the company's previous close.

A number of other analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Amazon.com from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Evercore ISI dropped their target price on Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Stifel Nicolaus dropped their price objective on shares of Amazon.com from $248.00 to $245.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Raymond James Financial reaffirmed an "outperform" rating and issued a $195.00 price target (down from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Finally, Truist Financial increased their price objective on shares of Amazon.com from $226.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Three analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com presently has an average rating of "Moderate Buy" and a consensus price target of $248.24.

Amazon.com Stock Down 0.1%

Shares of NASDAQ AMZN traded down $0.28 during mid-day trading on Thursday, reaching $222.26. 30,243,964 shares of the company traded hands, compared to its average volume of 42,028,267. The company's fifty day moving average is $208.56 and its two-hundred day moving average is $208.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. Amazon.com has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The stock has a market cap of $2.36 trillion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 1.65 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly 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 company had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. On average, analysts expect that Amazon.com will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 13,570 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $202.41, for a total value of $2,746,703.70. Following the transaction, the senior vice president directly owned 47,030 shares in the company, valued at approximately $9,519,342.30. This trade represents a 22.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew S. Garman sold 20,923 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,211,799.90. The disclosure for this sale can be found here. In the last three months, insiders sold 6,886,613 shares of company stock valued at $1,531,840,610. 9.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Several institutional investors have recently bought and sold shares of AMZN. Castlekeep Investment Advisors LLC acquired a new stake in shares of Amazon.com during the fourth quarter worth about $25,000. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com during the 4th quarter valued at approximately $27,000. Carderock Capital Management Inc. purchased a new stake in shares of Amazon.com in the 2nd quarter valued at $27,000. LSV Asset Management purchased a new stake in shares of Amazon.com in the 4th quarter valued at $35,000. Finally, Cooksen Wealth LLC acquired a new stake in shares of Amazon.com in the first quarter worth $36,000. 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.

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