Amazon.com (NASDAQ:AMZN) Price Target Raised to $246.00 at Scotiabank

Amazon.com (NASDAQ:AMZN) had its price objective hoisted by research analysts at Scotiabank from $245.00 to $246.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the e-commerce giant’s stock. Scotiabank’s price target would indicate a potential upside of 24.09% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Piper Sandler upped their target price on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday. Barclays lifted their price objective on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. JMP Securities upped their target price on Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a research note on Friday. Rosenblatt Securities lifted their price target on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research report on Friday. Finally, DA Davidson restated a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $241.62.

Amazon.com Stock Performance

NASDAQ:AMZN traded up $11.84 during trading hours on Friday, hitting $198.24. 32,556,348 shares of the company were exchanged, compared to its average volume of 41,013,570. The company’s 50 day moving average price is $184.40 and its 200-day moving average price is $183.65. The stock has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 47.80, a PEG ratio of 1.46 and a beta of 1.14. Amazon.com has a 52-week low of $136.47 and a 52-week high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, research analysts forecast that Amazon.com will post 4.84 earnings per share for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,855 shares of company stock worth $9,215,048 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

Institutional Trading of Amazon.com

A number of institutional investors have recently bought and sold shares of AMZN. International Assets Investment Management LLC increased its holdings in Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Swedbank AB acquired a new stake in Amazon.com during the 1st quarter valued at $2,239,757,000. Capital World Investors increased its position in Amazon.com by 64.6% during the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after buying an additional 11,524,463 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Amazon.com by 8.5% in the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after acquiring an additional 6,810,145 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other 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.