Evercore ISI Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its price target upped by Evercore ISI from $240.00 to $260.00 in a research report report published on Friday, Benzinga reports. They currently have an outperform rating on the e-commerce giant’s stock.

AMZN has been the subject of several other reports. Piper Sandler raised their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial raised their price objective on Amazon.com from $230.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, September 30th. TD Cowen boosted their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday. Wedbush restated an “outperform” rating and set a $225.00 price target on shares of Amazon.com in a report on Friday, August 2nd. Finally, Stifel Nicolaus decreased their price objective on Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $246.48.

Amazon.com Price Performance

NASDAQ:AMZN opened at $195.78 on Friday. The business’s 50-day simple moving average is $185.23 and its two-hundred day simple moving average is $183.89. Amazon.com has a 52 week low of $138.36 and a 52 week high of $201.20. The stock has a market cap of $2.05 trillion, a PE ratio of 41.92, a P/E/G ratio of 1.42 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last posted its quarterly 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 23.46% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the previous year, the firm earned $0.85 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts forecast that Amazon.com will post 4.84 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,855 shares of company stock valued at $9,215,048. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amazon.com

Several large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its stake in Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after acquiring an additional 38,949,065 shares during the last quarter. Vanguard Group Inc. grew its stake in 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 valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Swedbank AB acquired a new position in shares of Amazon.com in the first quarter valued at about $2,239,757,000. Capital World Investors raised its stake in shares of Amazon.com by 64.6% in 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 purchasing an additional 11,524,463 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Amazon.com by 8.5% during 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 purchasing an additional 6,810,145 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.