JPMorgan Chase & Co. Boosts Amazon.com (NASDAQ:AMZN) Price Target to $280.00

Amazon.com (NASDAQ:AMZN) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $250.00 to $280.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the e-commerce giant’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 21.13% from the stock’s current price.

Several other research firms have also recently weighed in on AMZN. Evercore ISI increased their target price on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company reissued an “equal weight” rating and set a $197.00 price objective on shares of Amazon.com in a report on Wednesday, November 20th. Truist Financial raised their target price on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group upped their price target on shares of Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Monday. Finally, DA Davidson reiterated a “buy” rating and set a $235.00 target price on shares of Amazon.com in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $241.33.

Amazon.com Stock Performance

NASDAQ AMZN opened at $231.15 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The firm has a market capitalization of $2.43 trillion, a P/E ratio of 49.50, a PEG ratio of 1.54 and a beta of 1.16. The stock has a 50-day simple moving average of $203.67 and a two-hundred day simple moving average of $190.54. Amazon.com has a fifty-two week low of $144.05 and a fifty-two week high of $233.00.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. On average, equities analysts forecast that Amazon.com will post 5.29 earnings per share for the current year.

Insider Activity

In other news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872 in the last ninety days. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Hedge funds have recently made changes to their positions in the business. Foundations Investment Advisors LLC increased its holdings in Amazon.com by 9.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares during the period. Umpqua Bank boosted its holdings in shares of Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares during the last quarter. Zhang Financial LLC grew its stake in Amazon.com by 12.9% during the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after purchasing an additional 5,828 shares in the last quarter. BayBridge Capital Group LLC boosted its position in Amazon.com by 51.8% during the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock worth $2,677,000 after acquiring an additional 4,905 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Amazon.com by 0.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after acquiring an additional 14,766 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.