JPMorgan Chase & Co. Boosts Amazon.com (NASDAQ:AMZN) Price Target to $240.00

Amazon.com (NASDAQ:AMZN) had its target price raised by equities researchers at JPMorgan Chase & Co. from $225.00 to $240.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the e-commerce giant’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 33.05% from the stock’s previous close.

AMZN has been the subject of several other reports. Wolfe Research lifted their price target on shares of Amazon.com from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. The Goldman Sachs Group lifted their price target on shares of Amazon.com from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday. Susquehanna lifted their price target on shares of Amazon.com from $185.00 to $220.00 and gave the company a “positive” rating in a report on Friday, February 2nd. Canaccord Genuity Group lifted their price target on shares of Amazon.com from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Truist Financial boosted their target price on shares of Amazon.com from $216.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $209.58.

Amazon.com Stock Up 3.1 %

Shares of Amazon.com stock traded up $5.38 during midday trading on Wednesday, reaching $180.38. 28,676,069 shares of the company’s stock traded hands, compared to its average volume of 43,385,055. The company has a market cap of $1.87 trillion, a price-to-earnings ratio of 61.97, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16. The company’s 50 day simple moving average is $178.38 and its 200 day simple moving average is $159.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.05. Amazon.com has a 52 week low of $101.15 and a 52 week high of $189.77.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. The company had revenue of $143.31 billion for the quarter, compared to analyst estimates of $142.65 billion. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. Equities analysts expect that Amazon.com will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $155.72, for a total transaction of $77,860.00. Following the completion of the transaction, the chief executive officer now owns 116,560 shares in the company, valued at $18,150,723.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, February 1st. The shares were 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 owns 116,560 shares in the company, valued at approximately $18,150,723.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,009,208 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $166.79, for a total transaction of $335,115,802.32. Following the completion of the transaction, the insider now directly owns 938,251,817 shares in the company, valued at $156,491,020,557.43. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,214,010 shares of company stock worth $5,505,889,146. 10.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. 1900 Wealth Management LLC grew its stake in shares of Amazon.com by 7.9% in the 3rd quarter. 1900 Wealth Management LLC now owns 26,006 shares of the e-commerce giant’s stock worth $3,306,000 after acquiring an additional 1,899 shares in the last quarter. Park Place Capital Corp grew its stake in shares of Amazon.com by 4.0% in the 3rd quarter. Park Place Capital Corp now owns 22,054 shares of the e-commerce giant’s stock worth $2,804,000 after acquiring an additional 857 shares in the last quarter. Kozak & Associates Inc. grew its stake in shares of Amazon.com by 81.9% in the 3rd quarter. Kozak & Associates Inc. now owns 54,534 shares of the e-commerce giant’s stock worth $6,978,000 after acquiring an additional 24,549 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of Amazon.com by 0.3% in the 3rd quarter. Avior Wealth Management LLC now owns 71,767 shares of the e-commerce giant’s stock worth $9,123,000 after acquiring an additional 225 shares in the last quarter. Finally, Founders Financial Securities LLC grew its position in Amazon.com by 5.6% during the third quarter. Founders Financial Securities LLC now owns 40,762 shares of the e-commerce giant’s stock valued at $5,182,000 after buying an additional 2,147 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.