Amazon.com’s (AMZN) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $210.00 price target on the e-commerce giant’s stock.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus reduced their price target on Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Truist Financial upped their price target on Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Piper Sandler upped their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley reaffirmed an “overweight” rating and issued a $210.00 price target on shares of Amazon.com in a research note on Thursday, October 3rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $230.00 target price on shares of Amazon.com in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $244.11.

Amazon.com Trading Up 6.2 %

Shares of Amazon.com stock traded up $11.53 during midday trading on Friday, reaching $197.93. 99,687,847 shares of the company’s stock traded hands, compared to its average volume of 41,329,359. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The company has a market cap of $2.08 trillion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The stock has a 50 day moving average of $184.82 and a 200-day moving average of $183.75. Amazon.com has a 12 month low of $136.47 and a 12 month high of $201.20.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. As a group, equities analysts expect that Amazon.com will post 4.84 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP David Zapolsky sold 9,490 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.88, for a total value of $1,716,551.20. Following the transaction, the senior vice president now owns 64,610 shares of the company’s stock, valued at $11,686,656.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,855 shares of company stock valued at $9,215,048. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Several institutional investors have recently added to or reduced their stakes in AMZN. Cambridge Advisors Inc. boosted its holdings in shares of Amazon.com by 1.5% in the 1st quarter. Cambridge Advisors Inc. now owns 4,625 shares of the e-commerce giant’s stock worth $834,000 after purchasing an additional 70 shares during the period. Kathmere Capital Management LLC lifted its stake in shares of Amazon.com by 71.5% during the 1st quarter. Kathmere Capital Management LLC now owns 8,776 shares of the e-commerce giant’s stock worth $1,583,000 after acquiring an additional 3,658 shares during the last quarter. Norway Savings Bank lifted its stake in shares of Amazon.com by 3.6% during the 1st quarter. Norway Savings Bank now owns 26,688 shares of the e-commerce giant’s stock worth $4,814,000 after acquiring an additional 933 shares during the last quarter. New England Research & Management Inc. lifted its stake in shares of Amazon.com by 5.9% during the 1st quarter. New England Research & Management Inc. now owns 9,413 shares of the e-commerce giant’s stock worth $1,698,000 after acquiring an additional 525 shares during the last quarter. Finally, Silverleafe Capital Partners LLC lifted its stake in shares of Amazon.com by 7.8% during the 1st quarter. Silverleafe Capital Partners LLC now owns 4,570 shares of the e-commerce giant’s stock worth $824,000 after acquiring an additional 330 shares during the last quarter. 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.