Amazon.com (NASDAQ:AMZN) Price Target Raised to $260.00 at Mizuho

Amazon.com (NASDAQ:AMZN) had its price objective raised by Mizuho from $240.00 to $260.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the e-commerce giant’s stock. Mizuho’s target price indicates a potential upside of 15.00% from the company’s previous close.

AMZN has been the subject of several other research reports. Oppenheimer raised their price target on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price objective on shares of Amazon.com in a research report on Tuesday. Susquehanna boosted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Wedbush upped their target price on shares of Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Monness Crespi & Hardt lifted their price target on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $237.42.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $226.09 on Tuesday. Amazon.com has a 12-month low of $143.64 and a 12-month high of $230.08. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.38 trillion, a P/E ratio of 48.41, a P/E/G ratio of 1.52 and a beta of 1.16. The stock has a 50-day moving average price of $198.19 and a 200 day moving average price of $188.47.

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

Insider Buying and Selling

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,030,183 shares of company stock worth $1,252,883,795 in the last three months. 10.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMZN. Icon Wealth Advisors LLC increased its holdings in shares of Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after acquiring an additional 25,581 shares in the last quarter. PayPay Securities Corp increased its stake in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new position in shares of Amazon.com in the third quarter worth $37,000. Bull Oak Capital LLC acquired a new stake in shares of Amazon.com during the third quarter worth $45,000. Finally, Values First Advisors Inc. purchased a new stake in shares of Amazon.com during the third quarter valued at $56,000. 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.