Amazon.com (NASDAQ:AMZN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Amazon.com (NASDAQ:AMZN) had its price objective increased by equities researchers at JPMorgan Chase & Co. from $250.00 to $280.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the e-commerce giant’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 25.40% from the stock’s current price.

Several other research firms also recently weighed in on AMZN. Stifel Nicolaus boosted their target price on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Bank of America upped their target price on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 price target on shares of Amazon.com in a research report on Tuesday, December 10th. Monness Crespi & Hardt increased their price objective on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Mizuho lifted their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Two research 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 company. According to data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $242.00.

Amazon.com Price Performance

Shares of AMZN opened at $223.29 on Wednesday. The company has a 50 day moving average of $205.11 and a two-hundred day moving average of $190.98. The company has a market cap of $2.35 trillion, a price-to-earnings ratio of 47.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. 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 has a twelve month low of $144.05 and a twelve month high of $233.00.

Amazon.com (NASDAQ:AMZN) last announced 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. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. As a group, analysts predict that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction on 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 completion of the transaction, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the sale, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,034,534 shares of company stock worth $1,253,883,872 in the last ninety days. 10.80% of the stock is owned by insiders.

Institutional Trading of Amazon.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Greenfield Savings Bank boosted its position in Amazon.com by 1.5% in the 2nd quarter. Greenfield Savings Bank now owns 23,114 shares of the e-commerce giant’s stock valued at $4,467,000 after buying an additional 335 shares during the period. CGN Advisors LLC lifted its stake in shares of Amazon.com by 2.0% in the 2nd quarter. CGN Advisors LLC now owns 37,523 shares of the e-commerce giant’s stock worth $7,251,000 after acquiring an additional 741 shares during the period. MPS Loria Financial Planners LLC boosted its holdings in shares of Amazon.com by 4.4% in the second quarter. MPS Loria Financial Planners LLC now owns 11,191 shares of the e-commerce giant’s stock valued at $2,163,000 after acquiring an additional 468 shares in the last quarter. Mid American Wealth Advisory Group Inc. increased its stake in shares of Amazon.com by 44.3% during the second quarter. Mid American Wealth Advisory Group Inc. now owns 1,788 shares of the e-commerce giant’s stock worth $346,000 after acquiring an additional 549 shares during the period. Finally, Contravisory Investment Management Inc. increased its stake in shares of Amazon.com by 3.1% during the second quarter. Contravisory Investment Management Inc. now owns 47,099 shares of the e-commerce giant’s stock worth $9,102,000 after acquiring an additional 1,411 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.