Wells Fargo & Company Increases Amazon.com (NASDAQ:AMZN) Price Target to $239.00

Amazon.com (NASDAQ:AMZN) had its target price increased by research analysts at Wells Fargo & Company from $234.00 to $239.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the e-commerce giant’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 22.99% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Maxim Group reduced their price target on shares of Amazon.com from $318.00 to $238.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Telsey Advisory Group boosted their target price on shares of Amazon.com from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Wedbush reissued an “outperform” rating and set a $225.00 target price on shares of Amazon.com in a research report on Wednesday, May 1st. Monness Crespi & Hardt boosted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $225.00 price target on shares of Amazon.com in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $215.86.

Amazon.com Price Performance

AMZN traded down $3.52 during midday trading on Friday, reaching $194.33. 26,387,627 shares of the company’s stock were exchanged, compared to its average volume of 42,527,910. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. The stock has a market capitalization of $2.02 trillion, a PE ratio of 54.43, a P/E/G ratio of 1.39 and a beta of 1.14. The business’s 50-day moving average price is $183.13 and its 200 day moving average price is $172.43. Amazon.com has a 1-year low of $118.35 and a 1-year high of $199.84.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. During the same period in the previous year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities analysts anticipate that Amazon.com will post 4.72 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the completion of the sale, the chief executive officer now directly owns 2,025,358 shares of the company’s stock, valued at $367,480,955.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total value of $3,771,048.96. Following the transaction, the chief executive officer now owns 2,025,358 shares in the company, valued at approximately $367,480,955.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Rubinstein sold 5,264 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $190.00, for a total value of $1,000,160.00. Following the completion of the transaction, the director now owns 104,400 shares in the company, valued at approximately $19,836,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,338 shares of company stock valued at $11,894,344. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds have recently added to or reduced their stakes in the company. Cooksen Wealth LLC acquired a new position in Amazon.com during the fourth quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Amazon.com by 45.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after acquiring an additional 86 shares during the period. Strid Group LLC bought a new stake in shares of Amazon.com in the fourth quarter valued at approximately $43,000. Harbor Investment Advisory LLC boosted its position in shares of Amazon.com by 0.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 1,988 shares during the period. Finally, Clarity Asset Management Inc. bought a new stake in shares of Amazon.com in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds 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.