Amazon.com (NASDAQ:AMZN) Rating Increased to Overweight at Wells Fargo & Company

Key Points

• Wells Fargo has upgraded Amazon.com from an "equal weight" to an "overweight" rating, with a price target increase from $245.00 to $280.00, indicating a potential upside of 26.86% from the previous close.
• The company's latest quarterly earnings report showed earnings per share of $1.68, exceeding estimates, and a revenue of $167.70 billion, reflecting a 13.3% increase year-over-year.
• Institutional investors hold a significant share of Amazon.com, with about 72.20% of the stock owned by them, indicating strong institutional confidence in the company's prospects.

Amazon.com (NASDAQ:AMZN) was upgraded by investment analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $280.00 price objective on the e-commerce giant's stock, up from their prior price objective of $245.00. Wells Fargo & Company's price objective would indicate a potential upside of 26.86% from the company's previous close.

Several other equities research analysts have also issued reports on the stock. Citigroup reissued an "overweight" rating on shares of Amazon.com in a research report on Wednesday, August 13th. Morgan Stanley reaffirmed an "overweight" rating on shares of Amazon.com in a report on Wednesday, September 10th. Westpark Capital reaffirmed a "buy" rating and set a $280.00 price target on shares of Amazon.com in a report on Friday, August 1st. Bank of America raised their price target on shares of Amazon.com from $265.00 to $272.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Piper Sandler raised their price target on shares of Amazon.com from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Amazon.com has a consensus rating of "Buy" and a consensus price target of $264.04.

Amazon.com Price Performance

Amazon.com stock opened at $220.71 on Wednesday. Amazon.com has a 52-week low of $161.38 and a 52-week high of $242.52. The firm has a fifty day moving average of $227.74 and a 200-day moving average of $209.76. The firm has a market capitalization of $2.35 trillion, a P/E ratio of 33.64, a PEG ratio of 1.52 and a beta of 1.30. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The company had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. During the same quarter in the prior year, the business earned $1.26 earnings per share. The business's quarterly revenue was up 13.3% compared to the same quarter last year. Amazon.com has set its Q3 2025 guidance at EPS. As a group, analysts predict that Amazon.com will post 6.31 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's 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 transaction, the insider directly owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 25,097,911 shares of company stock worth $5,676,032,574. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMZN. Kingstone Capital Partners Texas LLC lifted its position in shares of Amazon.com by 542,733.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant's stock worth $29,100,194,000 after buying an additional 132,616,953 shares during the last quarter. Norges Bank bought a new stake in Amazon.com in the 2nd quarter valued at about $27,438,011,000. Nuveen LLC bought a new stake in Amazon.com in the 1st quarter valued at about $11,674,091,000. GAMMA Investing LLC lifted its position in Amazon.com by 21,420.5% in the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock valued at $5,754,425,000 after purchasing an additional 30,104,520 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Amazon.com by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 849,721,601 shares of the e-commerce giant's stock valued at $186,420,422,000 after purchasing an additional 17,447,045 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.

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