Amazon.com (NASDAQ:AMZN) Price Target Cut to $245.00 by Analysts at Oppenheimer

Key Points

• Oppenheimer has reduced its price target for Amazon.com from $250.00 to $245.00, maintaining an "outperform" rating that indicates a potential upside of 13.42% from the company's previous close.
• Analysts from other firms such as UBS and Rosenblatt have issued higher price targets, with UBS setting a target of $271.00 and Rosenblatt raising theirs to $297.00, reflecting overall positive sentiments about the stock.
• In recent insider trading, Jeffrey P. Bezos sold over 2.6 million shares for approximately $609 million, resulting in a 0.30% decrease in his position while still holding nearly 884 million shares.

Amazon.com (NASDAQ:AMZN) had its target price reduced by Oppenheimer from $250.00 to $245.00 in a report published on Friday morning, MarketBeat Ratings reports. They currently have an outperform rating on the e-commerce giant's stock.

A number of other research firms have also weighed in on AMZN. Raymond James Financial reissued an "outperform" rating and set a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Barclays boosted their price objective on Amazon.com from $240.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday. HSBC upped their price target on Amazon.com from $240.00 to $256.00 in a research note on Tuesday, July 22nd. JMP Securities reaffirmed a "market outperform" rating and issued a $285.00 price target on shares of Amazon.com in a research note on Friday. Finally, Westpark Capital reaffirmed a "buy" rating and issued a $280.00 price target on shares of Amazon.com in a research note on Friday. Two research analysts have rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $260.85.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded down $19.36 during trading on Friday, reaching $214.75. The stock had a trading volume of 122,007,379 shares, compared to its average volume of 37,811,656. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The business has a fifty day moving average price of $218.20 and a 200-day moving average price of $209.21. The stock has a market cap of $2.28 trillion, a PE ratio of 32.74, a PEG ratio of 1.74 and a beta of 1.31. Amazon.com has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data 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 company 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%. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. On average, equities analysts forecast that Amazon.com will post 6.31 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction dated 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 transaction, the insider owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 25,099,537 shares of company stock valued at $5,674,394,548. Corporate insiders own 9.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Castlekeep Investment Advisors LLC acquired a new stake in shares of Amazon.com in the 4th quarter valued at about $25,000. Prudent Man Investment Management Inc. acquired a new stake in shares of Amazon.com in the 4th quarter valued at about $27,000. Carderock Capital Management Inc. acquired a new stake in shares of Amazon.com in the 2nd quarter valued at about $27,000. LSV Asset Management acquired a new stake in shares of Amazon.com in the 4th quarter valued at about $35,000. Finally, Cooksen Wealth LLC acquired a new stake in shares of Amazon.com in the 1st quarter valued at about $36,000. 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.