JPMorgan Chase & Co. Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price target upped by JPMorgan Chase & Co. from $250.00 to $280.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the e-commerce giant’s stock.

Several other analysts also recently commented on AMZN. Moffett Nathanson lifted their target price on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC reiterated a “buy” rating and set a $250.00 target price on shares of Amazon.com in a research note on Tuesday, December 10th. Loop Capital boosted their price target on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Piper Sandler lifted their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada upped their price target on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.00.

Amazon.com Stock Performance

Amazon.com stock traded up $3.47 during midday trading on Wednesday, reaching $223.99. 12,194,645 shares of the company’s stock were exchanged, compared to its average volume of 41,111,266. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock’s 50-day simple moving average is $204.37 and its 200 day simple moving average is $190.75. The firm has a market cap of $2.36 trillion, a price-to-earnings ratio of 47.96, a P/E/G ratio of 1.54 and a beta of 1.16. Amazon.com has a 52 week low of $144.05 and a 52 week high of $233.00.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the firm earned $0.85 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, analysts expect that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the sale, the director now owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is currently owned by company insiders.

Institutional Trading of Amazon.com

Several hedge funds have recently bought and sold shares of the business. PayPay Securities Corp boosted its position in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP bought a new position in Amazon.com during the 3rd quarter valued at $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com during the 3rd quarter worth $45,000. Christopher J. Hasenberg Inc grew its stake in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in shares of Amazon.com in the third quarter valued at about $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.