Wedbush Reiterates “Outperform” Rating for Amazon.com (NASDAQ:AMZN)

Wedbush reissued their outperform rating on shares of Amazon.com (NASDAQ:AMZN) in a research report report published on Friday, Benzinga reports. They currently have a $225.00 price target on the e-commerce giant’s stock. Wedbush also issued estimates for Amazon.com’s Q3 2024 earnings at $1.22 EPS and FY2025 earnings at $5.93 EPS.

Several other equities research analysts have also commented on the company. Roth Mkm restated a buy rating and issued a $210.00 price objective on shares of Amazon.com in a research report on Tuesday, July 9th. Needham & Company LLC lifted their price objective on shares of Amazon.com from $205.00 to $210.00 and gave the company a buy rating in a report on Wednesday, July 17th. Monness Crespi & Hardt increased their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Loop Capital lifted their price target on Amazon.com from $215.00 to $225.00 and gave the company a buy rating in a research note on Monday, May 6th. Finally, Mizuho increased their price target on Amazon.com from $230.00 to $240.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $222.58.

Amazon.com Stock Performance

NASDAQ AMZN opened at $161.02 on Friday. The firm has a market capitalization of $1.68 trillion, a P/E ratio of 44.45, a PEG ratio of 1.32 and a beta of 1.15. The stock has a 50-day simple moving average of $187.12 and a two-hundred day simple moving average of $179.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. Amazon.com has a fifty-two week low of $118.35 and a fifty-two week high of $201.20.

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the transaction, the chief executive officer now owns 2,025,358 shares of the company’s stock, valued at approximately $367,480,955.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the completion of the transaction, the chief executive officer now directly owns 2,025,358 shares of the company’s stock, valued at approximately $367,480,955.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Rubinstein sold 5,264 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $190.00, for a total transaction of $1,000,160.00. Following the completion of the sale, the director now directly owns 104,400 shares in the company, valued at approximately $19,836,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,111,990 shares of company stock worth $1,222,095,188. 10.80% of the stock is currently owned by insiders.

Institutional Trading of Amazon.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMZN. Savant Capital LLC grew its stake in Amazon.com by 1.5% during the 2nd quarter. Savant Capital LLC now owns 257,848 shares of the e-commerce giant’s stock worth $49,829,000 after buying an additional 3,771 shares during the last quarter. Sustainable Insight Capital Management LLC raised its stake in shares of Amazon.com by 31.9% during the second quarter. Sustainable Insight Capital Management LLC now owns 26,051 shares of the e-commerce giant’s stock worth $5,034,000 after purchasing an additional 6,300 shares during the last quarter. Narwhal Capital Management lifted its stake in shares of Amazon.com by 2.7% in the 2nd quarter. Narwhal Capital Management now owns 197,582 shares of the e-commerce giant’s stock worth $38,183,000 after acquiring an additional 5,209 shares during the period. Howard Capital Management Inc. increased its position in Amazon.com by 9.6% during the 2nd quarter. Howard Capital Management Inc. now owns 42,049 shares of the e-commerce giant’s stock worth $8,126,000 after purchasing an additional 3,682 shares during the period. Finally, Flynn Zito Capital Management LLC raised its position in Amazon.com by 4.3% in the second quarter. Flynn Zito Capital Management LLC now owns 16,827 shares of the e-commerce giant’s stock worth $3,252,000 after acquiring an additional 696 shares in the last quarter. 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.