Truist Financial Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its price objective boosted by Truist Financial from $226.00 to $250.00 in a report released on Wednesday morning, MarketBeat reports. They currently have a buy rating on the e-commerce giant's stock.

Other equities analysts also recently issued research reports about the stock. Oppenheimer upped their price objective on shares of Amazon.com from $215.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Morgan Stanley decreased their price objective on Amazon.com from $280.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Amazon.com from $287.00 to $206.00 and set a "buy" rating for the company in a research note on Monday, April 14th. JMP Securities reissued a "market outperform" rating on shares of Amazon.com in a research note on Tuesday, May 6th. Finally, Citigroup restated a "buy" rating on shares of Amazon.com in a report on Monday, June 2nd. Three research analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $246.23.

Amazon.com Price Performance

AMZN traded down $0.54 during midday trading on Wednesday, reaching $219.92. 30,825,114 shares of the company's stock were exchanged, compared to its average volume of 42,036,855. Amazon.com has a 1-year low of $151.61 and a 1-year high of $242.52. The stock has a market capitalization of $2.33 trillion, a PE ratio of 35.82, a P/E/G ratio of 1.65 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The business's 50-day moving average price is $204.25 and its 200 day moving average price is $208.75.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to analysts' expectations of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. Amazon.com's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. As a group, equities analysts anticipate that Amazon.com will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other news, CFO Brian T. Olsavsky sold 17,750 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.57, for a total transaction of $3,577,867.50. Following the completion of the transaction, the chief financial officer directly owned 49,000 shares of the company's stock, valued at approximately $9,876,930. This represents a 26.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 224,926 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $223.56, for a total value of $50,284,456.56. Following the transaction, the insider owned 905,454,975 shares of the company's stock, valued at $202,423,514,211. This represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,424,463 shares of company stock valued at $756,747,557 in the last ninety days. 10.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds have recently added to or reduced their stakes in AMZN. Norges Bank bought a new stake in shares of Amazon.com during the fourth quarter valued at approximately $27,266,582,000. Nuveen LLC bought a new stake in Amazon.com during the 1st quarter valued at $11,674,091,000. GAMMA Investing LLC grew its stake in shares of Amazon.com by 21,420.5% in the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock worth $5,754,425,000 after purchasing an additional 30,104,520 shares in the last quarter. Capital World Investors increased its holdings in shares of Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. 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.