Barclays Increases Amazon.com (NASDAQ:AMZN) Price Target to $3,530.00

Amazon.com (NASDAQ:AMZN) had its target price raised by stock analysts at Barclays from $3,430.00 to $3,530.00 in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has an “overweight” rating on the e-commerce giant’s stock. Barclays‘s price target suggests a potential upside of 11.54% from the company’s current price.

Several other brokerages have also recently commented on AMZN. Guggenheim raised their price target on shares of Amazon.com from $2,250.00 to $2,700.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Bank of America raised their price target on shares of Amazon.com from $3,000.00 to $3,280.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Wells Fargo & Co raised their price target on shares of Amazon.com from $3,000.00 to $3,600.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Rowe raised their price target on shares of Amazon.com from $2,500.00 to $3,000.00 and gave the company a “positive” rating in a research report on Friday, May 1st. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Amazon.com in a research report on Tuesday, June 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $3,240.51.

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

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

In other Amazon.com news, Director Indra K. Nooyi acquired 27 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were bought at an average cost of $2,806.80 per share, for a total transaction of $75,783.60. Following the completion of the purchase, the director now owns 707 shares in the company, valued at approximately $1,984,407.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patricia Q. Stonesifer sold 2,200 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $2,329.44, for a total transaction of $5,124,768.00. Following the transaction, the director now owns 4,645 shares in the company, valued at $10,820,248.80. The disclosure for this sale can be found here. Insiders own 16.10% of the company’s stock.

Several institutional investors have recently modified their holdings of AMZN. Sunbelt Securities Inc. increased its stake in shares of Amazon.com by 23.9% during the fourth quarter. Sunbelt Securities Inc. now owns 7,401 shares of the e-commerce giant’s stock worth $13,500,000 after acquiring an additional 1,430 shares during the period. IMS Capital Management increased its stake in shares of Amazon.com by 49.0% during the first quarter. IMS Capital Management now owns 1,550 shares of the e-commerce giant’s stock worth $3,022,000 after acquiring an additional 510 shares during the period. Woodstock Corp increased its stake in shares of Amazon.com by 10.6% during the first quarter. Woodstock Corp now owns 178 shares of the e-commerce giant’s stock worth $347,000 after acquiring an additional 17 shares during the period. Fulton Bank N.A. increased its stake in shares of Amazon.com by 10.7% during the first quarter. Fulton Bank N.A. now owns 6,531 shares of the e-commerce giant’s stock worth $12,733,000 after acquiring an additional 629 shares during the period. Finally, Wiley BROS. Aintree Capital LLC increased its stake in shares of Amazon.com by 5.6% during the first quarter. Wiley BROS. Aintree Capital LLC now owns 563 shares of the e-commerce giant’s stock worth $1,098,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 64.54% of the company’s stock.

Amazon.com Company Profile

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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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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