Amazon.com (NASDAQ:AMZN) Price Target Raised to $280.00

Key Points

• Cantor Fitzgerald analysts have raised their target price for Amazon.com (NASDAQ:AMZN) from $260.00 to $280.00, indicating a potential upside of 27.96% based on the stock's previous close.
• Amazon's stock has experienced a decline, trading down 6.5% recently, with current trading price at $218.83 after significant trading volume.
• Despite a drop in stock price, Amazon reported $1.68 earnings per share for the last quarter, surpassing analysts' expectations and showing a 13.3% increase in revenue year-over-year.

Amazon.com (NASDAQ:AMZN) had its target price lifted by research analysts at Cantor Fitzgerald from $260.00 to $280.00 in a note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has an "overweight" rating on the e-commerce giant's stock. Cantor Fitzgerald's price objective suggests a potential upside of 30.38% from the stock's previous close.

Several other equities analysts have also recently issued reports on the stock. Pivotal Research boosted their target price on shares of Amazon.com from $260.00 to $285.00 and gave the company a "buy" rating in a research note on Friday. DA Davidson lowered their target price on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Roth Capital set a $250.00 price target on Amazon.com and gave the company a "buy" rating in a research note on Tuesday, July 8th. Evercore ISI lowered their price target on Amazon.com from $270.00 to $260.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Tigress Financial raised their price objective on Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $260.85.

Amazon.com Stock Performance

AMZN traded down $19.36 during midday trading on Friday, hitting $214.75. 122,007,379 shares of the company were exchanged, compared to its average volume of 37,811,656. The company's 50 day simple moving average is $218.20 and its 200 day simple moving average is $209.11. The firm has a market capitalization 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. Amazon.com has a 1-year low of $151.61 and a 1-year high of $242.52. 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 (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping 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 return on equity of 24.90% and a net margin of 10.54%. Amazon.com's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. As a group, sell-side analysts predict that Amazon.com will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the sale, the insider owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 25,099,537 shares of company stock valued at $5,674,394,548 over the last three months. 9.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Amazon.com

Several large investors have recently modified their holdings of AMZN. Barlow Wealth Partners Inc. increased its holdings in shares of Amazon.com by 0.4% in the second quarter. Barlow Wealth Partners Inc. now owns 12,565 shares of the e-commerce giant's stock valued at $2,763,000 after purchasing an additional 44 shares during the period. Northern Capital Management Inc. boosted its stake in shares of Amazon.com by 0.6% in the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock valued at $1,613,000 after buying an additional 45 shares in the last quarter. Ridgecrest Wealth Partners LLC grew its holdings in Amazon.com by 0.5% during the second quarter. Ridgecrest Wealth Partners LLC now owns 8,399 shares of the e-commerce giant's stock worth $1,843,000 after acquiring an additional 45 shares during the period. Probity Advisors Inc. lifted its holdings in Amazon.com by 0.4% in the second quarter. Probity Advisors Inc. now owns 12,157 shares of the e-commerce giant's stock valued at $2,667,000 after acquiring an additional 45 shares during the period. Finally, Balanced Wealth Group LLC boosted its position in shares of Amazon.com by 1.6% during the 4th quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock worth $705,000 after purchasing an additional 48 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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.