Amazon.com (NASDAQ:AMZN) Price Target Raised to $306.00 at Scotiabank

Amazon.com (NASDAQ:AMZN) had its price objective hoisted by Scotiabank from $246.00 to $306.00 in a research note released on Friday,Benzinga reports. Scotiabank currently has a sector outperform rating on the e-commerce giant’s stock.

A number of other brokerages also recently issued reports on AMZN. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price target on shares of Amazon.com in a research report on Tuesday. Sanford C. Bernstein increased their target price on Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft increased their target price on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a report on Friday, November 1st. Redburn Atlantic increased their target price on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group increased their target price on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $249.02.

Amazon.com Price Performance

NASDAQ:AMZN opened at $234.85 on Friday. The firm has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 50.29, a PEG ratio of 1.31 and a beta of 1.14. Amazon.com has a 1 year low of $151.61 and a 1 year high of $236.40. The business has a 50 day simple moving average of $219.63 and a 200-day simple moving average of $197.22. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. Equities analysts forecast that Amazon.com will post 5.39 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

Institutional investors and hedge funds have recently bought and sold shares of the stock. Accordant Advisory Group Inc lifted its stake in Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after buying an additional 100 shares in the last quarter. Icon Wealth Advisors LLC lifted its stake in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares in the last quarter. PayPay Securities Corp raised its holdings in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new position in Amazon.com in the 3rd quarter valued at $37,000. Finally, Bull Oak Capital LLC acquired a new position in Amazon.com in the 3rd quarter valued at $45,000. 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.