Amazon.com (NASDAQ:AMZN) Price Target Raised to $255.00 at Piper Sandler

Key Points

• Piper Sandler has raised its target price for Amazon.com (NASDAQ:AMZN) from $250.00 to $255.00, indicating an 8.92% potential upside from the previous close.
• Amazon reported $1.68 EPS for the last quarter, significantly surpassing analysts' expectations of $1.31 EPS and achieving a 13.3% year-over-year revenue growth.
• Insider Jeffrey P. Bezos sold over 4 million shares of Amazon stock, valued at approximately $960 million, reducing his position by 0.47% in the company.

Amazon.com (NASDAQ:AMZN) had its target price raised by research analysts at Piper Sandler from $250.00 to $255.00 in a research note issued on Friday, MarketBeat reports. The firm presently has an "overweight" rating on the e-commerce giant's stock. Piper Sandler's price target suggests a potential upside of 18.74% from the stock's current price.

Several other analysts also recently weighed in on the company. Evercore ISI lowered their target price on Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Needham & Company LLC raised their price objective on Amazon.com from $220.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Mizuho dropped their price objective on Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Roth Capital set a $250.00 target price on Amazon.com and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $235.00 price target on shares of Amazon.com in a research note on Thursday, July 10th. Two research analysts have rated the stock with a hold rating, forty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $260.85.

Amazon.com Stock Down 8.3%

Shares of NASDAQ AMZN traded down $19.36 on Friday, hitting $214.75. The company had a trading volume of 122,007,379 shares, compared to its average volume of 37,811,656. The business has a 50 day moving average of $218.20 and a two-hundred day moving average of $209.11. The firm has a market capitalization of $2.28 trillion, a P/E ratio of 32.74, a PEG ratio of 1.59 and a beta of 1.31. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Amazon.com has a 12-month low of $151.61 and a 12-month high of $242.52.

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

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the transaction, the insider owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 25,099,537 shares of company stock worth $5,674,394,548. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amazon.com

Large investors have recently bought and sold shares of the business. Tallon Kerry Patrick bought a new position in shares of Amazon.com during the 4th quarter worth about $800,000. LaFleur & Godfrey LLC lifted its position in Amazon.com by 1.8% in the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock worth $10,839,000 after purchasing an additional 860 shares during the period. Brighton Jones LLC boosted its stake in Amazon.com by 10.9% during the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after buying an additional 397,007 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Amazon.com by 4.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock valued at $5,495,000 after buying an additional 986 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its position in shares of Amazon.com by 2.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock valued at $442,481,000 after acquiring an additional 54,987 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

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.