Royal Bank of Canada Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective upped by analysts at Royal Bank of Canada from $215.00 to $225.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the e-commerce giant’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 12.69% from the company’s previous close.

A number of other equities analysts also recently commented on AMZN. Needham & Company LLC reissued a “buy” rating and issued a $210.00 target price on shares of Amazon.com in a research note on Friday. Barclays boosted their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company cut Amazon.com from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $225.00 to $183.00 in a research note on Monday, October 7th. Stifel Nicolaus lifted their price target on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Maxim Group raised their price objective on shares of Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $242.20.

Amazon.com Trading Up 7.1 %

NASDAQ:AMZN traded up $13.27 during trading hours on Friday, reaching $199.67. 62,499,391 shares of the company were exchanged, compared to its average volume of 41,154,813. Amazon.com has a 52-week low of $136.47 and a 52-week high of $201.20. The stock has a 50 day simple moving average of $184.40 and a 200 day simple moving average of $183.65. The firm has a market cap of $2.10 trillion, a price-to-earnings ratio of 47.77, a PEG ratio of 1.46 and a beta of 1.14. 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 issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts predict that Amazon.com will post 4.84 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Garrison Point Advisors LLC raised its stake in Amazon.com by 0.3% during the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after purchasing an additional 55 shares during the period. Meridian Investment Counsel Inc. lifted its stake in Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after acquiring an additional 55 shares in the last quarter. O Connor Financial Group LLC boosted its position in Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after acquiring an additional 55 shares during the period. Cherrydale Wealth Management LLC grew its stake in Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after acquiring an additional 55 shares in the last quarter. Finally, Ridgecrest Wealth Partners LLC increased its holdings in shares of Amazon.com by 0.7% in the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after purchasing an additional 56 shares during the period. 72.20% of the stock is 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.