Wells Fargo & Company Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price target raised by investment analysts at Wells Fargo & Company from $201.00 to $238.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the e-commerce giant's stock. Wells Fargo & Company's target price would suggest a potential upside of 6.50% from the stock's current price.

Several other research analysts have also weighed in on AMZN. JMP Securities reiterated a "market outperform" rating on shares of Amazon.com in a research note on Tuesday, May 6th. Needham & Company LLC restated a "buy" rating and set a $220.00 price target on shares of Amazon.com in a research note on Friday, May 2nd. Royal Bank Of Canada lowered their target price on shares of Amazon.com from $235.00 to $230.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Mizuho lowered their target price on shares of Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Wedbush reiterated an "outperform" rating and issued a $235.00 target price (up from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $246.33.

Amazon.com Stock Up 0.0%

AMZN stock opened at $223.47 on Tuesday. Amazon.com has a 12 month low of $151.61 and a 12 month high of $242.52. The firm has a market cap of $2.37 trillion, a PE ratio of 36.40, a P/E/G ratio of 1.68 and a beta of 1.33. The firm has a 50 day simple moving average of $207.16 and a 200 day simple moving average of $208.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm'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. 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, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total value of $541,129.05. Following the transaction, the vice president directly owned 119,780 shares in the company, valued at $24,050,626.20. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 224,926 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $223.56, for a total transaction of $50,284,456.56. Following the completion of the transaction, the insider owned 905,454,975 shares in the company, valued at $202,423,514,211. This represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,426,963 shares of company stock valued at $757,297,707 over the last 90 days. Company insiders own 10.80% of the company's stock.

Hedge Funds Weigh In On Amazon.com

Several large investors have recently bought and sold shares of the business. Castlekeep Investment Advisors LLC acquired a new position in shares of Amazon.com in the 4th quarter valued at $25,000. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com in the 4th quarter valued at $27,000. LSV Asset Management acquired a new position in shares of Amazon.com in the 4th quarter valued at $35,000. Cooksen Wealth LLC acquired a new position in shares of Amazon.com in the 1st quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Amazon.com in the 1st quarter valued at $40,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.

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