Amazon.com's (AMZN) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a $250.00 price objective on the e-commerce giant's stock.

AMZN has been the subject of several other reports. Benchmark lifted their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Bank of America raised their target price on Amazon.com from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Maxim Group increased their price target on shares of Amazon.com from $251.00 to $260.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Piper Sandler upped their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Finally, Tigress Financial lifted their price target on shares of Amazon.com from $245.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $246.85.

Amazon.com Stock Up 2.1 %

Amazon.com stock traded up $4.77 during mid-day trading on Tuesday, reaching $230.71. 39,275,134 shares of the company's stock were exchanged, compared to its average volume of 31,031,949. The company has a fifty day moving average of $218.30 and a 200-day moving average of $196.47. The company has a market cap of $2.43 trillion, a P/E ratio of 49.40, a P/E/G ratio of 1.26 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com has a twelve month low of $151.61 and a twelve month high of $233.00.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter last year, the company earned $0.85 EPS. Amazon.com's revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Amazon.com will post 5.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares of the company's stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now directly owns 24,912 shares of the company's stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. Insiders own 10.80% of the company's stock.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds have recently made changes to their positions in the business. MBM Wealth Consultants LLC boosted its position in shares of Amazon.com by 0.6% in the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant's stock worth $1,889,000 after buying an additional 48 shares during the period. Semus Wealth Partners LLC raised its stake in shares of Amazon.com by 0.3% during the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant's stock valued at $3,339,000 after purchasing an additional 49 shares during the period. Bell Investment Advisors Inc lifted its position in shares of Amazon.com by 1.5% during the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant's stock worth $626,000 after purchasing an additional 51 shares in the last quarter. O Connor Financial Group LLC grew its holdings in Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant's stock valued at $473,000 after purchasing an additional 55 shares in the last quarter. Finally, Cherrydale Wealth Management LLC increased its stake in Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant's stock worth $1,396,000 after buying an additional 55 shares during the period. Hedge funds and other 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.