Evercore ISI Raises Amazon.com (NASDAQ:AMZN) Price Target to $240.00

Amazon.com (NASDAQ:AMZN) had its target price lifted by Evercore ISI from $225.00 to $240.00 in a report released on Friday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the e-commerce giant’s stock.

A number of other analysts also recently commented on the company. Sanford C. Bernstein raised their price objective on Amazon.com from $210.00 to $215.00 and gave the stock an outperform rating in a research report on Monday, July 22nd. Wedbush restated an outperform rating and issued a $225.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. Maxim Group boosted their price objective on shares of Amazon.com from $238.00 to $251.00 and gave the stock a buy rating in a research report on Friday, August 2nd. TD Cowen upped their target price on shares of Amazon.com from $225.00 to $245.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Finally, Truist Financial increased their price target on Amazon.com from $220.00 to $230.00 and gave the company a buy rating in a research note on Monday, July 22nd. One analyst has rated the stock with a hold rating, forty have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $222.84.

Amazon.com Stock Performance

AMZN stock opened at $191.60 on Friday. The company has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 53.67, a P/E/G ratio of 1.39 and a beta of 1.14. Amazon.com has a 12 month low of $118.35 and a 12 month high of $201.20. The firm has a 50 day moving average of $178.54 and a two-hundred day moving average of $182.10. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

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

Insider Buying and Selling

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jeffrey P. Bezos sold 1,228,993 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $200.36, for a total transaction of $246,241,037.48. Following the transaction, the insider now directly owns 930,696,284 shares of the company’s stock, valued at $186,474,307,462.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,104,317 shares of company stock worth $1,220,621,322. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Institutional investors and hedge funds have recently bought and sold shares of the company. Garrison Point Advisors LLC increased its stake in shares of Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after purchasing an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. increased its holdings in Amazon.com by 1.8% in the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after purchasing an additional 55 shares in the last quarter. Ridgecrest Wealth Partners LLC lifted its position in shares of Amazon.com by 0.7% during the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after acquiring an additional 56 shares during the period. Stordahl Capital Management Inc. raised its holdings in shares of Amazon.com by 2.1% during the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after purchasing an additional 56 shares during the period. Finally, Lutz Financial Services LLC raised its stake in Amazon.com by 1.9% during the 1st 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 during the period. Institutional investors own 72.20% of the company’s stock.

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.