Needham & Company LLC Forecasts Strong Price Appreciation for Amazon.com (NASDAQ:AMZN) Stock

Amazon.com (NASDAQ:AMZN) had its target price hoisted by equities researchers at Needham & Company LLC from $210.00 to $250.00 in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. Needham & Company LLC’s target price suggests a potential upside of 16.77% from the company’s current price.

Several other equities research analysts also recently weighed in on AMZN. Roth Mkm upped their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group raised their target price on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Oppenheimer lifted their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Loop Capital increased their price objective on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, UBS Group lifted their target price on Amazon.com from $220.00 to $223.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.45.

Amazon.com Trading Up 2.5 %

Amazon.com stock opened at $214.10 on Thursday. The firm has a 50-day moving average price of $189.87 and a two-hundred day moving average price of $185.36. Amazon.com has a 52-week low of $139.52 and a 52-week high of $215.09. The firm has a market capitalization of $2.25 trillion, a price-to-earnings ratio of 45.85, a PEG ratio of 1.40 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $157.28 billion. During the same period last year, the firm earned $0.85 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Amazon.com will post 5.27 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 the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $206.75, for a total value of $619,497,843.50. Following the completion of the transaction, the insider now directly owns 914,420,614 shares in the company, valued at approximately $189,056,461,944.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,053,349 shares of company stock worth $1,256,503,289 over the last three months. 10.80% of the stock is currently owned by insiders.

Institutional Trading of Amazon.com

Institutional investors have recently made changes to their positions in the business. Stockbridge Partners LLC boosted its holdings in Amazon.com by 30.5% during the third quarter. Stockbridge Partners LLC now owns 3,362,417 shares of the e-commerce giant’s stock valued at $626,519,000 after purchasing an additional 786,131 shares in the last quarter. Peterson Wealth Management boosted its stake in Amazon.com by 8.0% in the 3rd quarter. Peterson Wealth Management now owns 27,165 shares of the e-commerce giant’s stock valued at $5,062,000 after buying an additional 2,014 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its stake in Amazon.com by 10.5% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 188,855 shares of the e-commerce giant’s stock valued at $35,190,000 after buying an additional 17,903 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its stake in Amazon.com by 1.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 5,243 shares of the e-commerce giant’s stock worth $976,000 after acquiring an additional 90 shares in the last quarter. Finally, Vinva Investment Management Ltd lifted its holdings in shares of Amazon.com by 13.4% during the third quarter. Vinva Investment Management Ltd now owns 436,078 shares of the e-commerce giant’s stock valued at $81,970,000 after acquiring an additional 51,399 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.