Bank of America Increases Amazon.com (NASDAQ:AMZN) Price Target to $248.00

Amazon.com (NASDAQ:AMZN) had its target price increased by Bank of America from $230.00 to $248.00 in a report released on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the e-commerce giant's stock.

A number of other equities analysts have also recently issued reports on the company. Westpark Capital reiterated a "buy" rating and issued a $280.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Scotiabank cut their price objective on Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Wells Fargo & Company cut their price objective on Amazon.com from $207.00 to $203.00 and set an "equal weight" rating for the company in a report on Tuesday, February 25th. Morgan Stanley cut their price objective on Amazon.com from $280.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Loop Capital upped their price objective on Amazon.com from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company's stock. Based on data from MarketBeat, Amazon.com has an average rating of "Moderate Buy" and an average target price of $244.89.

Amazon.com Stock Performance

AMZN stock traded up $2.52 during midday trading on Monday, hitting $209.75. The company's stock had a trading volume of 34,760,063 shares, compared to its average volume of 41,967,865. The stock's 50-day moving average price is $191.06 and its 200 day moving average price is $208.60. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. Amazon.com has a 1 year low of $151.61 and a 1 year high of $242.52. The stock has a market cap of $2.23 trillion, a price-to-earnings ratio of 37.96, a PEG ratio of 1.50 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The firm had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The business's revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Amazon.com will post 6.31 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the transaction, the chief executive officer now owns 509,474 shares in the company, valued at $95,776,017.26. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith Brian Alexander sold 1,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $210.68, for a total transaction of $210,680.00. Following the completion of the transaction, the director now owns 5,465 shares in the company, valued at approximately $1,151,366.20. The trade was a 15.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,037 shares of company stock worth $20,531,075 over the last three months. Insiders own 9.70% of the company's stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Regent Peak Wealth Advisors LLC grew its position in Amazon.com by 0.7% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 45,153 shares of the e-commerce giant's stock worth $9,906,000 after purchasing an additional 318 shares in the last quarter. Tallon Kerry Patrick bought a new stake in Amazon.com in the 4th quarter worth about $800,000. Capital & Planning LLC grew its position in Amazon.com by 72.1% in the 4th quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant's stock worth $856,000 after purchasing an additional 1,635 shares in the last quarter. Financial Advisors LLC grew its position in Amazon.com by 1.3% in the 4th quarter. Financial Advisors LLC now owns 9,663 shares of the e-commerce giant's stock worth $2,120,000 after purchasing an additional 125 shares in the last quarter. Finally, Riversedge Advisors LLC grew its position in Amazon.com by 18.0% in the 4th quarter. Riversedge Advisors LLC now owns 7,095 shares of the e-commerce giant's stock worth $1,557,000 after purchasing an additional 1,081 shares in the last quarter. 72.20% of the stock is 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.