Amazon.com (NASDAQ:AMZN) Receives Buy Rating from Needham & Company LLC

Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They currently have a $205.00 price objective on the e-commerce giant’s stock. Needham & Company LLC’s price target suggests a potential upside of 13.08% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. TD Cowen lifted their target price on shares of Amazon.com from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. DA Davidson lifted their target price on shares of Amazon.com from $200.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Raymond James lifted their target price on shares of Amazon.com from $185.00 to $200.00 and gave the company a “strong-buy” rating in a report on Friday, February 2nd. Robert W. Baird lifted their target price on shares of Amazon.com from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, UBS Group lifted their target price on shares of Amazon.com from $180.00 to $198.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amazon.com presently has a consensus rating of “Buy” and a consensus target price of $202.80.

Amazon.com Stock Down 1.1 %

Shares of Amazon.com stock opened at $181.28 on Thursday. Amazon.com has a 52-week low of $101.15 and a 52-week high of $189.77. The company has a 50 day moving average of $177.09 and a 200 day moving average of $156.36. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.89 trillion, a P/E ratio of 62.51, a P/E/G ratio of 1.60 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.19. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The company had revenue of $169.96 billion during the quarter, compared to the consensus estimate of $165.96 billion. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, research analysts forecast that Amazon.com will post 4.08 EPS for the current fiscal year.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 5,998,849 shares of Amazon.com stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the sale, the insider now owns 982,252,968 shares in the company, valued at $167,140,165,034.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total value of $523,807.00. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at $20,239,226.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey P. Bezos sold 5,998,849 shares of Amazon.com stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the completion of the sale, the insider now owns 982,252,968 shares of the company’s stock, valued at approximately $167,140,165,034.88. The disclosure for this sale can be found here. Insiders have sold 32,213,510 shares of company stock worth $5,505,798,456 over the last 90 days. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Amazon.com

A number of hedge funds and other institutional investors have recently made changes to their positions in AMZN. Register Financial Advisors LLC boosted its holdings in Amazon.com by 14.3% in the third quarter. Register Financial Advisors LLC now owns 5,263 shares of the e-commerce giant’s stock worth $669,000 after purchasing an additional 657 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of Amazon.com by 1.0% during the third quarter. Wedge Capital Management L L P NC now owns 14,613 shares of the e-commerce giant’s stock valued at $1,858,000 after acquiring an additional 148 shares during the period. Cherrydale Wealth Management LLC boosted its holdings in shares of Amazon.com by 14.7% during the fourth quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock valued at $799,000 after acquiring an additional 675 shares during the period. Tompkins Financial Corp boosted its holdings in shares of Amazon.com by 3.3% during the fourth quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock valued at $10,875,000 after acquiring an additional 2,273 shares during the period. Finally, Nicholas Company Inc. boosted its holdings in shares of Amazon.com by 3.9% during the third quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock valued at $89,628,000 after acquiring an additional 26,465 shares during the period. Institutional investors own 72.20% of the company’s stock.

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.