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

Amazon.com (NASDAQ:AMZN) had its price target raised by analysts at Wells Fargo & Company from $234.00 to $239.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the e-commerce giant’s stock. Wells Fargo & Company‘s target price points to a potential upside of 22.99% from the company’s current price.

Other analysts have also recently issued reports about the company. Rosenblatt Securities restated a “buy” rating and set a $220.00 price objective on shares of Amazon.com in a research report on Wednesday, May 1st. The Goldman Sachs Group boosted their price objective on Amazon.com from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Oppenheimer boosted their price objective on Amazon.com from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Moffett Nathanson reiterated a “buy” rating and issued a $228.00 price target on shares of Amazon.com in a research report on Thursday, April 11th. Finally, Citigroup raised their price target on Amazon.com from $235.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $215.86.

Amazon.com Stock Performance

Shares of AMZN stock traded down $3.52 during trading on Friday, reaching $194.33. The company had a trading volume of 26,387,627 shares, 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 firm’s 50 day simple moving average is $183.13 and its two-hundred day simple moving average is $172.43. The company has a market capitalization of $2.02 trillion, a PE ratio of 54.43, a PEG ratio of 1.39 and a beta of 1.14. Amazon.com has a one year low of $118.35 and a one 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 the consensus estimate of $0.83 by $0.15. The company had revenue of $143.31 billion for the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS. Sell-side analysts forecast that Amazon.com will post 4.72 earnings per share for the current year.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $180.73, for a total transaction of $632,555.00. Following the transaction, the chief executive officer now directly owns 512,858 shares of the company’s stock, valued at approximately $92,688,826.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $180.73, for a total value of $632,555.00. Following the completion of the sale, the chief executive officer now directly owns 512,858 shares of the company’s stock, valued at $92,688,826.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $184.00, for a total value of $92,000.00. Following the completion of the sale, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at $24,214,400. The disclosure for this sale can be found here. Insiders have sold a total of 65,338 shares of company stock worth $11,894,344 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Institutional investors and hedge funds have recently bought and sold shares of the company. Garrison Point Advisors LLC boosted its holdings in shares of Amazon.com by 0.3% in the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after acquiring an additional 55 shares during the period. Ridgecrest Wealth Partners LLC boosted its holdings in shares of Amazon.com by 0.7% in the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after acquiring an additional 56 shares during the period. Stordahl Capital Management Inc. raised its position in shares of Amazon.com by 2.1% in the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after buying an additional 56 shares in the last quarter. Lutz Financial Services LLC raised its position in shares of Amazon.com by 1.9% in the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after buying an additional 57 shares in the last quarter. Finally, O Dell Group LLC raised its position in shares of Amazon.com by 0.4% in the first quarter. O Dell Group LLC now owns 13,638 shares of the e-commerce giant’s stock worth $2,460,000 after buying an additional 57 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.