Amazon.com (NASDAQ:AMZN) Price Target Raised to $297.00 at Rosenblatt Securities

Key Points

• Rosenblatt Securities has raised its target price for Amazon.com (NASDAQ:AMZN) from $288 to $297, indicating a potential upside of 26.86% from the stock's previous close and maintaining a "buy" rating.
• Other analysts, including Tigress Financial and Jefferies Financial Group, have also increased their price targets, with a consensus rating of "Moderate Buy" and an average target price of $257.21.
• In its latest quarterly report, Amazon reported $1.68 earnings per share and revenue of $167.70 billion, outperforming estimates and marking a 13.3% year-over-year increase.

Amazon.com (NASDAQ:AMZN) had its price target boosted by equities research analysts at Rosenblatt Securities from $288.00 to $297.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the e-commerce giant's stock. Rosenblatt Securities' price objective indicates a potential upside of 38.30% from the stock's current price.

AMZN has been the subject of a number of other research reports. Raymond James Financial reaffirmed an "outperform" rating and set a $195.00 price target (down previously from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. Benchmark reiterated a "buy" rating and issued a $260.00 price target on shares of Amazon.com in a report on Friday, May 2nd. UBS Group restated a "buy" rating and set a $271.00 price objective (up from $249.00) on shares of Amazon.com in a research note on Monday, July 28th. Oppenheimer upped their target price on Amazon.com from $215.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Finally, Evercore ISI dropped their target price on Amazon.com from $270.00 to $260.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $260.85.

Amazon.com Stock Down 8.3%

Shares of AMZN stock traded down $19.36 during trading hours on Friday, reaching $214.75. 122,007,379 shares of the company's stock were exchanged, compared to its average volume of 37,811,656. Amazon.com has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.28 trillion, a PE ratio of 32.74, a PEG ratio of 1.59 and a beta of 1.31. The stock's fifty day moving average price is $218.20 and its two-hundred day moving average price is $209.11.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping 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 net margin of 10.54% and a return on equity of 24.90%. Amazon.com's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 EPS. Research analysts predict that Amazon.com will post 6.31 EPS for the current year.

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the sale, the insider directly owned 897,722,088 shares in the company, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 25,099,537 shares of company stock valued at $5,674,394,548 in the last three months. Company insiders own 9.70% of the company's stock.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMZN. Western Wealth Management LLC boosted its stake in Amazon.com by 0.9% in the 1st quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant's stock worth $26,660,000 after buying an additional 1,297 shares during the last quarter. Momentous Wealth Management Inc. acquired a new stake in shares of Amazon.com in the fourth quarter worth approximately $749,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Amazon.com in the first quarter valued at approximately $514,000. Segall Bryant & Hamill LLC increased its position in Amazon.com by 14.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after purchasing an additional 39,696 shares during the last quarter. Finally, Bearing Point Capital LLC purchased a new position in Amazon.com during the fourth quarter worth approximately $12,014,000. Institutional investors and hedge funds 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.