Amazon.com (NASDAQ:AMZN) Price Target Raised to $272.00

Key Points

• Bank of America has raised its price target for Amazon.com (NASDAQ:AMZN) from $265.00 to $272.00, indicating a potential upside of 16.18% from the current stock price.
• The stock currently has a consensus rating of "Moderate Buy", with 45 analysts recommending a buy and only 3 giving a hold rating.
• Amazon's recent quarterly earnings surpassed expectations, reporting $1.68 earnings per share and $167.70 billion in revenue, reflecting a year-over-year revenue increase of 13.3%.

Amazon.com (NASDAQ:AMZN) had its price objective hoisted by Bank of America from $265.00 to $272.00 in a note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has a "buy" rating on the e-commerce giant's stock. Bank of America's target price indicates a potential upside of 26.66% from the stock's current price.

A number of other equities research analysts have also issued reports on AMZN. Citizens Jmp assumed coverage on Amazon.com in a research report on Thursday, July 10th. They set a "strong-buy" rating on the stock. Rosenblatt Securities raised their target price on shares of Amazon.com from $288.00 to $297.00 and gave the stock a "buy" rating in a report on Friday. Benchmark restated a "buy" rating and set a $260.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Piper Sandler lifted their price objective on shares of Amazon.com from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Telsey Advisory Group boosted their target price on shares of Amazon.com from $235.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $260.85.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded down $19.36 during trading hours on Friday, hitting $214.75. 122,007,379 shares of the company's stock traded hands, compared to its average volume of 37,811,656. The company's fifty day simple moving average is $218.20 and its two-hundred day simple moving average is $209.11. The company has a market cap of $2.28 trillion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 1.59 and a beta of 1.31. 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 52 week low of $151.61 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. The firm had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 24.90%. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. As a group, equities analysts anticipate that Amazon.com will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the sale, the insider directly owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 25,099,537 shares of company stock valued at $5,674,394,548. Insiders own 9.70% of the company's stock.

Hedge Funds Weigh In On Amazon.com

Several large investors have recently bought and sold shares of the stock. Castlekeep Investment Advisors LLC acquired a new stake in shares of Amazon.com during the 4th quarter worth approximately $25,000. Prudent Man Investment Management Inc. bought a new position in Amazon.com in the fourth quarter worth $27,000. Carderock Capital Management Inc. acquired a new stake in Amazon.com during the second quarter worth $27,000. LSV Asset Management bought a new stake in Amazon.com in the 4th quarter valued at $35,000. Finally, Cooksen Wealth LLC bought a new stake in Amazon.com in the 1st quarter valued at $36,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.