Wedbush Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its target price increased by Wedbush from $250.00 to $260.00 in a report published on Monday, MarketBeat Ratings reports. Wedbush currently has an outperform rating on the e-commerce giant’s stock. Wedbush also issued estimates for Amazon.com’s Q4 2024 earnings at $1.94 EPS, FY2024 earnings at $6.80 EPS, Q1 2025 earnings at $1.83 EPS, Q2 2025 earnings at $1.97 EPS, Q3 2025 earnings at $2.05 EPS, Q4 2025 earnings at $2.32 EPS, FY2025 earnings at $8.17 EPS and FY2026 earnings at $9.50 EPS.

A number of other research firms also recently commented on AMZN. Maxim Group increased their price objective on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a report on Friday, November 1st. Evercore ISI increased their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Telsey Advisory Group raised their price target on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Scotiabank raised their price target on shares of Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group raised their price target on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $243.67.

Amazon.com Trading Up 0.0 %

Shares of Amazon.com stock opened at $222.13 on Monday. The firm has a market capitalization of $2.34 trillion, a PE ratio of 47.57, a P/E/G ratio of 1.54 and a beta of 1.14. Amazon.com has a twelve month low of $148.21 and a twelve month high of $233.00. The firm’s 50-day moving average price is $215.07 and its 200 day moving average price is $194.92. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.85 EPS. On average, sell-side analysts predict that Amazon.com will post 5.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction on Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares in the company, valued at approximately $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction 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 approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 in the last ninety days. 10.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares during the period. Geode Capital Management LLC increased its stake in shares of Amazon.com by 3.4% during the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after acquiring an additional 6,545,944 shares during the period. Legal & General Group Plc increased its stake in shares of Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after acquiring an additional 1,042,177 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Amazon.com by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after acquiring an additional 289,532 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Amazon.com by 3.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after acquiring an additional 1,984,592 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.