Amazon.com (NASDAQ:AMZN) Rating Reiterated by Cantor Fitzgerald

Amazon.com (NASDAQ:AMZN)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $230.00 price objective on the e-commerce giant’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 24.24% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Truist Financial raised their target price on shares of Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a report on Monday. Bank of America cut their target price on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Robert W. Baird raised their target price on shares of Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. TD Securities raised their target price on shares of Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. Finally, Rosenblatt Securities raised their price target on shares of Amazon.com from $220.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $223.65.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $185.13 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. Amazon.com has a 1-year low of $118.35 and a 1-year high of $201.20. The firm has a 50-day moving average of $178.97 and a two-hundred day moving average of $182.81. The stock has a market cap of $1.93 trillion, a P/E ratio of 51.86, a PEG ratio of 1.46 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The business had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. On average, research analysts expect that Amazon.com will post 4.86 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the transaction, the chief executive officer now owns 503,753 shares of the company’s stock, valued at $95,335,255.25. 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, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $189.25, for a total transaction of $662,375.00. Following the sale, the chief executive officer now directly owns 503,753 shares in the company, valued at $95,335,255.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,634,860 shares of company stock valued at $926,639,482. Insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Several hedge funds have recently modified their holdings of AMZN. Norges Bank acquired a new position in Amazon.com in the fourth quarter valued at approximately $17,700,551,000. Vanguard Group Inc. raised its holdings in Amazon.com by 1.9% in the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the period. Swedbank AB bought a new stake in shares of Amazon.com during the first quarter worth $2,239,757,000. Capital World Investors increased its position in shares of Amazon.com by 64.6% during the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after acquiring an additional 11,524,463 shares in the last quarter. Finally, Capital Research Global Investors increased its position in shares of Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after acquiring an additional 6,810,145 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

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.