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

Amazon.com (NASDAQ:AMZN) had its target price lifted by JPMorgan Chase & Co. from $225.00 to $240.00 in a research report sent to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the e-commerce giant’s stock.

A number of other equities analysts also recently weighed in on AMZN. Telsey Advisory Group increased their price target on shares of Amazon.com from $200.00 to $215.00 and gave the stock an outperform rating in a research note on Wednesday. Sanford C. Bernstein increased their price target on shares of Amazon.com from $175.00 to $200.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. Wedbush reissued an outperform rating and issued a $225.00 target price on shares of Amazon.com in a research note on Wednesday. Raymond James raised their target price on shares of Amazon.com from $200.00 to $205.00 and gave the company a strong-buy rating in a research note on Wednesday. Finally, Rosenblatt Securities reissued a buy rating and issued a $220.00 target price on shares of Amazon.com in a research note on Wednesday. One research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amazon.com presently has a consensus rating of Buy and a consensus target price of $211.07.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $186.21 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.94 trillion, a P/E ratio of 52.16, a P/E/G ratio of 1.37 and a beta of 1.15. Amazon.com has a fifty-two week low of $103.31 and a fifty-two week high of $189.77. The firm’s 50 day moving average is $179.02 and its two-hundred day moving average is $160.32.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. The company had revenue of $143.31 billion for the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. Amazon.com’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. Analysts expect that Amazon.com will post 4.55 EPS for the current year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $180.29, for a total value of $631,015.00. Following the completion of the transaction, the chief executive officer now directly owns 509,358 shares of the company’s stock, valued at approximately $91,832,153.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Amazon.com news, CEO Douglas J. Herrington sold 20,200 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the completion of the transaction, the chief executive officer now directly owns 514,131 shares of the company’s stock, valued at approximately $87,397,128.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $180.29, for a total transaction of $631,015.00. Following the transaction, the chief executive officer now directly owns 509,358 shares of the company’s stock, valued at $91,832,153.82. The disclosure for this sale can be found here. In the last three months, insiders sold 32,217,010 shares of company stock valued at $5,506,442,301. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Amazon.com by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 771,086,427 shares of the e-commerce giant’s stock valued at $117,158,872,000 after purchasing an additional 13,134,632 shares during the period. FMR LLC raised its position in shares of Amazon.com by 7.7% during the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock worth $38,403,135,000 after buying an additional 21,649,871 shares in the last quarter. Norges Bank bought a new stake in shares of Amazon.com during the 4th quarter worth about $17,700,551,000. Northern Trust Corp raised its position in shares of Amazon.com by 3.7% during the 3rd quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock worth $11,736,905,000 after buying an additional 3,260,411 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Amazon.com by 0.5% during the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after buying an additional 295,132 shares in the last quarter. 72.20% of the stock is 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.