Telsey Advisory Group Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Key Points

• Telsey Advisory Group raised its price target for Amazon.com (AMZN) from $235 to $265, indicating a potential upside of 13.19%.
• Amazon recently reported earnings of $1.68 EPS for the quarter, exceeding estimates, with quarterly revenue of $167.70 billion, reflecting a 13.3% year-over-year increase.
• Despite increased price targets from several analysts, Wall Street Zen recently downgraded Amazon from a "buy" to a "hold" rating.

Amazon.com (NASDAQ:AMZN) had its price target lifted by investment analysts at Telsey Advisory Group from $235.00 to $265.00 in a research note issued on Friday, Marketbeat.com reports. The firm currently has an "outperform" rating on the e-commerce giant's stock. Telsey Advisory Group's price target indicates a potential upside of 23.40% from the stock's previous close.

A number of other analysts have also weighed in on AMZN. Moffett Nathanson raised their target price on shares of Amazon.com from $250.00 to $253.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Needham & Company LLC increased their price target on Amazon.com from $220.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. BMO Capital Markets boosted their price objective on Amazon.com from $233.00 to $270.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Tigress Financial lifted their price target on Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Finally, Oppenheimer boosted their price target on Amazon.com from $215.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Two equities research analysts have rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $260.85.

Amazon.com Price Performance

Shares of Amazon.com stock traded down $19.36 on Friday, reaching $214.75. 122,007,379 shares of the stock were exchanged, compared to its average volume of 37,811,656. Amazon.com has a one year low of $151.61 and a one year high of $242.52. The firm's 50 day moving average is $218.20 and its 200-day moving average is $209.11. 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 firm has a market cap of $2.28 trillion, a PE ratio of 32.74, a P/E/G ratio of 1.59 and a beta of 1.31.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. The firm had revenue of $167.70 billion for the quarter, compared to analysts' expectations of $161.80 billion. Amazon.com had a return on equity of 24.90% and a net margin of 10.54%. The business's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 earnings per share. As a group, analysts anticipate that Amazon.com will post 6.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the 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 completion of the sale, the insider owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 25,099,537 shares of company stock worth $5,674,394,548. 9.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors have recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of Amazon.com during the 4th quarter valued at $25,000. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com in the 4th quarter worth about $27,000. Carderock Capital Management Inc. bought a new position in Amazon.com during the second quarter valued at about $27,000. LSV Asset Management purchased a new stake in Amazon.com during the fourth quarter worth about $35,000. Finally, Cooksen Wealth LLC bought a new stake in Amazon.com in the first quarter worth about $36,000. 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.