The Goldman Sachs Group Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective boosted by analysts at The Goldman Sachs Group from $240.00 to $255.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the e-commerce giant’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 6.77% from the stock’s previous close.

A number of other research analysts have also recently issued reports on AMZN. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Amazon.com in a report on Friday. JMP Securities restated a “market outperform” rating and set a $285.00 target price on shares of Amazon.com in a research report on Thursday, January 30th. Piper Sandler raised their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wedbush restated an “outperform” rating and set a $280.00 target price (up previously from $260.00) on shares of Amazon.com in a research report on Monday, January 27th. Finally, Tigress Financial increased their price target on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Two equities 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 company’s stock. According to data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $254.02.

Amazon.com Trading Up 1.1 %

Shares of Amazon.com stock opened at $238.83 on Friday. Amazon.com has a 12-month low of $151.61 and a 12-month high of $242.52. 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 cap of $2.51 trillion, a PE ratio of 51.14, a price-to-earnings-growth ratio of 1.35 and a beta of 1.15. The company has a 50-day moving average of $225.85 and a two-hundred day moving average of $200.03.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. On average, research analysts anticipate that Amazon.com will post 5.3 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $210.00, for a total transaction of $735,000.00. Following the sale, the chief executive officer now directly owns 524,567 shares in the company, valued at approximately $110,159,070. The trade was a 0.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the business’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 sale, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,026,212 shares of company stock valued at $625,666,424 in the last ninety days. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rench Wealth Management Inc. raised its position in shares of Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after buying an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC raised its position in shares of Amazon.com by 9.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after buying an additional 16,392 shares in the last quarter. Blankinship & Foster LLC raised its position in shares of Amazon.com by 216.4% during the 3rd quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after buying an additional 4,740 shares in the last quarter. Umpqua Bank raised its position in shares of Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after buying an additional 137 shares in the last quarter. Finally, One Wealth Capital Management LLC bought a new stake in shares of Amazon.com in the 4th quarter worth approximately $4,270,000. 72.20% of the stock is currently owned by institutional investors.

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.