Amazon.com (NASDAQ:AMZN) Price Target Raised to $235.00 at Citigroup

Amazon.com (NASDAQ:AMZN) had its price objective boosted by Citigroup from $215.00 to $235.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the e-commerce giant’s stock. Citigroup’s price target suggests a potential upside of 33.19% from the stock’s current price.

Several other analysts have also recently commented on the company. Wells Fargo & Company raised their target price on Amazon.com from $211.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Deutsche Bank Aktiengesellschaft increased their price objective on Amazon.com from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Sanford C. Bernstein increased their price objective on Amazon.com from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Morgan Stanley increased their price objective on Amazon.com from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, The Goldman Sachs Group increased their price objective on Amazon.com from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $204.76.

Amazon.com Price Performance

Shares of AMZN traded down $3.10 during trading hours on Wednesday, hitting $176.44. 14,848,907 shares of the company were exchanged, compared to its average volume of 42,481,738. The company has a market capitalization of $1.83 trillion, a PE ratio of 61.07, a PEG ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 0.84. The firm has a fifty day simple moving average of $177.60 and a 200-day simple moving average of $157.99. Amazon.com has a one year low of $101.15 and a one year high of $189.77.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.19. The business had revenue of $169.96 billion during the quarter, compared to analyst estimates of $165.96 billion. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted $0.21 EPS. As a group, sell-side analysts predict that Amazon.com will post 4.1 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In related news, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total value of $523,807.00. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $20,239,226.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the completion of the sale, the chief executive officer now directly owns 116,560 shares in the company, valued at $18,150,723.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $20,239,226.60. The disclosure for this sale can be found here. Insiders have sold 32,214,010 shares of company stock valued at $5,505,889,146 in the last 90 days. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. GDS Wealth Management raised its position in Amazon.com by 4.4% during the first quarter. GDS Wealth Management now owns 112,426 shares of the e-commerce giant’s stock valued at $20,279,000 after purchasing an additional 4,707 shares in the last quarter. First Pacific Financial raised its position in Amazon.com by 36.2% during the first quarter. First Pacific Financial now owns 2,369 shares of the e-commerce giant’s stock valued at $427,000 after purchasing an additional 630 shares in the last quarter. Midwest Heritage Bank FSB increased its holdings in shares of Amazon.com by 34.4% during the first quarter. Midwest Heritage Bank FSB now owns 2,178 shares of the e-commerce giant’s stock worth $393,000 after buying an additional 558 shares in the last quarter. Essex Financial Services Inc. increased its holdings in shares of Amazon.com by 5.7% during the first quarter. Essex Financial Services Inc. now owns 117,559 shares of the e-commerce giant’s stock worth $21,205,000 after buying an additional 6,365 shares in the last quarter. Finally, Capasso Planning Partners LLC increased its holdings in shares of Amazon.com by 1.3% during the first quarter. Capasso Planning Partners LLC now owns 6,231 shares of the e-commerce giant’s stock worth $1,124,000 after buying an additional 81 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.