Amazon.com (NASDAQ:AMZN) Price Target Raised to $265.00

Key Points

• JPMorgan Chase & Co. has raised its price target for Amazon.com (NASDAQ: AMZN) from $255.00 to $265.00, suggesting a potential upside of 22.68%.
• Amazon's stock recently saw a 7.7% decline, with its current price at $216.01, while analysts have a consensus price target of $260.65.
• In the latest quarter, Amazon reported earnings of $1.68 per share, beating expectations and showing a 13.3% year-over-year revenue increase to $167.70 billion.

Amazon.com (NASDAQ:AMZN) had its target price upped by equities researchers at JPMorgan Chase & Co. from $255.00 to $265.00 in a note issued to investors on Friday, MarketBeat reports. The brokerage presently has an "overweight" rating on the e-commerce giant's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 23.40% from the company's current price.

Several other equities analysts also recently commented on AMZN. Barclays upped their price objective on Amazon.com from $240.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday. Bank of America upped their price objective on Amazon.com from $265.00 to $272.00 and gave the company a "buy" rating in a research report on Friday. Jefferies Financial Group increased their price target on Amazon.com from $255.00 to $265.00 in a research report on Wednesday, July 16th. Moffett Nathanson increased their price target on Amazon.com from $250.00 to $253.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Finally, Citizens Jmp assumed coverage on Amazon.com in a research report on Thursday, July 10th. They set a "strong-buy" rating on the stock. Two research analysts have rated the stock with a hold rating, forty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $260.85.

Amazon.com Trading Down 8.3%

Amazon.com stock traded down $19.36 during mid-day trading on Friday, hitting $214.75. The company's stock had a trading volume of 122,007,379 shares, compared to its average volume of 37,811,656. The company has a 50 day moving average of $218.20 and a 200-day moving average of $209.21. The stock has a market cap of $2.28 trillion, a PE ratio of 32.74, a P/E/G ratio of 1.74 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 one year low of $151.61 and a one year high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating the consensus estimate of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a return on equity of 24.90% and a net margin of 10.54%. Amazon.com's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 EPS. On average, research analysts anticipate that Amazon.com will post 6.31 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 25,099,537 shares of company stock worth $5,674,394,548 in the last three months. 9.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMZN. Prudent Man Investment Management Inc. purchased a new stake in shares of Amazon.com in the fourth quarter valued at approximately $27,000. Carderock Capital Management Inc. purchased a new stake in shares of Amazon.com in the second quarter valued at approximately $27,000. LSV Asset Management purchased a new stake in shares of Amazon.com in the fourth quarter valued at approximately $35,000. Perritt Capital Management Inc increased its position in shares of Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after buying an additional 80 shares in the last quarter. Finally, Cooksen Wealth LLC purchased a new stake in shares of Amazon.com in the first quarter valued at approximately $36,000. 72.20% of the stock is currently owned by hedge funds and other 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.