Amazon.com (NASDAQ:AMZN) Hits New 12-Month High After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price reached a new 52-week high during trading on Tuesday after Mizuho raised their price target on the stock from $240.00 to $260.00. Mizuho currently has an outperform rating on the stock. Amazon.com traded as high as $230.08 and last traded at $226.09, with a volume of 46768531 shares changing hands. The stock had previously closed at $227.03.

Other analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft upped their price objective on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and set a $236.00 price target on shares of Amazon.com in a report on Tuesday, December 3rd. Truist Financial boosted their price target on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus boosted their price target on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, TD Cowen boosted their price target on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.42.

Insider Transactions at Amazon.com

In related news, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,034,534 shares of company stock valued at $1,253,883,872. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Semus Wealth Partners LLC increased its holdings in shares of Amazon.com by 0.3% in the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after purchasing an additional 49 shares during the period. Bell Investment Advisors Inc increased its holdings in shares of Amazon.com by 1.5% in the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock valued at $626,000 after purchasing an additional 51 shares during the period. Meridian Investment Counsel Inc. increased its holdings in shares of Amazon.com by 1.8% in the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after purchasing an additional 55 shares during the period. O Connor Financial Group LLC increased its holdings in shares of Amazon.com by 2.2% in the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after purchasing an additional 55 shares during the period. Finally, Cherrydale Wealth Management LLC increased its holdings in shares of Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after purchasing an additional 55 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Up 2.3 %

The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.42 trillion, a PE ratio of 49.49, a P/E/G ratio of 1.52 and a beta of 1.16. The business has a 50 day moving average price of $198.98 and a 200 day moving average price of $188.78.

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

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.