Amazon.com (NASDAQ:AMZN) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research note published on Thursday, Benzinga reports. They currently have a $210.00 target price on the e-commerce giant’s stock.

Several other brokerages have also commented on AMZN. Jefferies Financial Group decreased their price objective on shares of Amazon.com from $235.00 to $225.00 and set a buy rating for the company in a research report on Friday, August 2nd. Cantor Fitzgerald assumed coverage on shares of Amazon.com in a report on Thursday, September 5th. They issued an overweight rating and a $230.00 price target for the company. Royal Bank of Canada reissued an outperform rating and set a $215.00 price objective on shares of Amazon.com in a report on Friday, August 2nd. Itau BBA Securities lowered Amazon.com from an outperform rating to a market perform rating and set a $186.00 target price for the company. in a research note on Friday, August 2nd. Finally, Roth Mkm boosted their price target on Amazon.com from $210.00 to $215.00 and gave the company a buy rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Amazon.com has an average rating of Buy and a consensus price target of $222.49.

Amazon.com Price Performance

NASDAQ AMZN opened at $187.00 on Thursday. The firm’s fifty day simple moving average is $179.78 and its two-hundred day simple moving average is $181.48. The firm has a market capitalization of $1.95 trillion, a P/E ratio of 52.38, a P/E/G ratio of 1.29 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. Amazon.com has a 12-month low of $118.35 and a 12-month high of $201.20.

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

Insider Buying and Selling at Amazon.com

In other news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. Insiders sold 6,104,317 shares of company stock valued at $1,220,621,322 over the last quarter. 10.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. PayPay Securities Corp boosted its stake in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Cooksen Wealth LLC acquired a new position in shares of Amazon.com during the 4th quarter valued at about $30,000. Christopher J. Hasenberg Inc grew its holdings in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. Clarity Asset Management Inc. acquired a new stake in Amazon.com during the fourth quarter worth about $46,000. Finally, Steph & Co. purchased a new position in Amazon.com during the first quarter worth about $65,000. 72.20% of the stock is owned by hedge funds and other 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.