Amazon.com (NASDAQ:AMZN) Price Target Raised to $3,700.00

Amazon.com (NASDAQ:AMZN) had its target price lifted by equities research analysts at Mizuho from $3,450.00 to $3,700.00 in a report released on Friday, The Fly reports. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. Mizuho’s price objective indicates a potential upside of 16.92% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. DZ Bank reaffirmed a “buy” rating on shares of Amazon.com in a report on Wednesday, July 8th. Susquehanna Bancshares reaffirmed a “positive” rating and issued a $3,000.00 target price (up from $2,500.00) on shares of Amazon.com in a report on Friday, May 1st. Needham & Company LLC assumed coverage on Amazon.com in a report on Wednesday, June 24th. They issued a “buy” rating and a $3,200.00 target price on the stock. JMP Securities lifted their target price on Amazon.com from $2,850.00 to $4,075.00 and gave the stock an “outperform” rating in a report on Friday. Finally, KeyCorp boosted their price objective on Amazon.com from $3,285.00 to $3,500.00 and gave the stock an “overweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the company. Amazon.com presently has an average rating of “Buy” and a consensus price target of $3,240.51.

Shares of Amazon.com stock opened at $3,164.68 on Friday. The stock’s 50-day simple moving average is $2,884.55 and its 200-day simple moving average is $2,314.52. Amazon.com has a 52 week low of $1,626.03 and a 52 week high of $3,344.29. The company has a market capitalization of $1,578.47 billion, a price-to-earnings ratio of 121.67, a PEG ratio of 5.83 and a beta of 1.32. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.36.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $8.56. Amazon.com had a return on equity of 21.51% and a net margin of 4.10%. The firm had revenue of $88.91 billion for the quarter, compared to analysts’ expectations of $81.56 billion. On average, equities analysts expect that Amazon.com will post 20.12 earnings per share for the current year.

In related news, Director Indra K. Nooyi bought 27 shares of the stock in a transaction on Wednesday, July 1st. The stock was bought at an average price of $2,806.80 per share, for a total transaction of $75,783.60. Following the completion of the acquisition, the director now directly owns 707 shares in the company, valued at $1,984,407.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia Q. Stonesifer sold 2,200 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $2,329.44, for a total value of $5,124,768.00. Following the sale, the director now owns 4,645 shares of the company’s stock, valued at approximately $10,820,248.80. The disclosure for this sale can be found here. 16.10% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of AMZN. Advisor Group Holdings Inc. acquired a new position in shares of Amazon.com during the first quarter worth $294,639,000. Alliancebernstein L.P. increased its position in shares of Amazon.com by 83.0% during the first quarter. Alliancebernstein L.P. now owns 1,752,984 shares of the e-commerce giant’s stock worth $3,417,828,000 after purchasing an additional 795,171 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Amazon.com by 26.1% during the first quarter. Wellington Management Group LLP now owns 2,721,098 shares of the e-commerce giant’s stock worth $5,305,379,000 after purchasing an additional 563,991 shares in the last quarter. Girard Partners LTD. increased its position in shares of Amazon.com by 8,783.7% during the first quarter. Girard Partners LTD. now owns 519,965 shares of the e-commerce giant’s stock worth $12,121,000 after purchasing an additional 514,112 shares in the last quarter. Finally, Capital Research Global Investors increased its position in shares of Amazon.com by 10.7% during the first quarter. Capital Research Global Investors now owns 4,501,995 shares of the e-commerce giant’s stock worth $8,777,634,000 after purchasing an additional 435,331 shares in the last quarter. Institutional investors own 64.54% of the company’s stock.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

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