Amazon.com (NASDAQ:AMZN) Given New $350.00 Price Target at Truist Financial

Amazon.com (NASDAQ:AMZN) had its price objective lifted by analysts at Truist Financial from $320.00 to $350.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. Truist Financial’s target price would suggest a potential upside of 48.62% from the company’s current price.

Other analysts have also issued reports about the company. Bank of America lifted their price objective on Amazon.com from $298.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Oppenheimer reiterated an “outperform” rating on shares of Amazon.com in a research report on Friday. Raymond James Financial reiterated an “outperform” rating and issued a $280.00 price objective on shares of Amazon.com in a report on Friday, May 1st. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Amazon.com in a research note on Friday. Finally, Canaccord Genuity Group increased their target price on shares of Amazon.com from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $316.81.

Amazon.com Stock Performance

Amazon.com stock opened at $235.50 on Friday. The firm has a market capitalization of $2.53 trillion, a P/E ratio of 28.17, a P/E/G ratio of 1.70 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The stock has a fifty day moving average price of $245.59 and a two-hundred day moving average price of $235.97. Amazon.com has a 52-week low of $196.00 and a 52-week high of $278.56.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $3.93. The business had revenue of $200.61 billion for the quarter, compared to analyst estimates of $197.03 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.68 EPS. As a group, analysts anticipate that Amazon.com will post 7.76 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 2,363 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $262.38, for a total transaction of $620,003.94. Following the completion of the transaction, the vice president owned 119,780 shares in the company, valued at approximately $31,427,876.40. This represents a 1.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $275.00, for a total value of $7,562,500.00. Following the completion of the sale, the chief executive officer directly owned 471,361 shares in the company, valued at $129,624,275. This represents a 5.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 135,719 shares of company stock worth $36,438,002. Company insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Amazon.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock worth $158,348,557,000 after buying an additional 8,913,959 shares in the last quarter. State Street Corp grew its holdings in shares of Amazon.com by 1.8% in the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant’s stock valued at $89,708,913,000 after acquiring an additional 6,971,680 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Amazon.com by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant’s stock valued at $51,753,622,000 after acquiring an additional 2,479,324 shares during the last quarter. Norges Bank acquired a new stake in shares of Amazon.com in the fourth quarter valued at about $32,868,735,000. Finally, Auto Owners Insurance Co increased its position in shares of Amazon.com by 27,376.7% in the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock valued at $2,272,397,000 after acquiring an additional 98,090,585 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Key Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Record quarter and major earnings beat: Amazon reported revenue of $200.6 billion, up approximately 20% year over year, while adjusted earnings per share reached $5.75 versus the $1.82 consensus estimate. Operating income rose 43% to $27.5 billion. Amazon.com Announces Second Quarter Results
• Positive Sentiment: AWS growth validates AI investments: AWS revenue jumped 37% to $42.2 billion, its fastest growth in more than four years and ahead of expectations. New cloud arrangements with Meta and OpenAI, along with strong enterprise AI demand, reinforced the view that Amazon is beginning to monetize its heavy infrastructure spending. Amazon jumps as AWS growth soothes fears over rising AI spending
• Positive Sentiment: Advertising and retail also contributed: Advertising revenue climbed 26% to nearly $20 billion, while North American sales increased 16%, suggesting that Amazon’s profit growth is not dependent solely on AWS. Amazon Thrives On Big Q2 For AI, Advertising Revenue Climbs
• Positive Sentiment: Analysts raised targets: Baird lifted its target to $310, JPMorgan to $365, and Bank of America to $320, citing accelerating AWS growth, AI momentum, and potential margin expansion. Citi maintained its Buy rating and $325 target. J.P. Morgan Amazon price target
• Neutral Sentiment: Zoox reached a regulatory milestone: Amazon’s autonomous-vehicle unit received approval to begin limited paid robotaxi rides, providing a potential long-term growth option but little immediate earnings impact. Amazon’s Zoox wins first US approval for paid robotaxis
• Negative Sentiment: Capital spending remains the key risk: Amazon’s approximately $220 billion 2026 spending plan and reported AI-related cost overruns could pressure free cash flow. Third-quarter revenue guidance of $197 billion to $202 billion also came in below the $204.6 billion analyst consensus, tempering the otherwise bullish outlook.

About Amazon.com

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.