Amazon.com (NASDAQ:AMZN) PT Raised to $174.00 at Bank of America

Posted by on Aug 6th, 2023

Amazon.com (NASDAQ:AMZN) had its price objective raised by equities research analysts at Bank of America from $154.00 to $174.00 in a research note issued to investors on Friday, MarketBeat reports. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. Bank of America‘s target price suggests a potential upside of 24.67% from the company’s current price.

AMZN has been the topic of several other reports. Oppenheimer cut their target price on Amazon.com from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. Loop Capital upped their target price on Amazon.com from $140.00 to $180.00 in a research report on Thursday, June 22nd. Moffett Nathanson decreased their target price on shares of Amazon.com from $119.00 to $116.00 and set an “outperform” rating for the company in a research report on Monday, April 24th. Rosenblatt Securities upgraded shares of Amazon.com from a “neutral” rating to a “buy” rating and boosted their target price for the company from $111.00 to $184.00 in a research report on Friday. Finally, Jefferies Financial Group boosted their target price on shares of Amazon.com from $135.00 to $150.00 in a research report on Wednesday, June 21st. Three investment analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.71.

Amazon.com Stock Up 8.3 %

Amazon.com stock opened at $139.57 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.92 and a quick ratio of 0.69. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 109.90, a PEG ratio of 2.46 and a beta of 1.26. Amazon.com has a 1-year low of $81.43 and a 1-year high of $146.57. The business has a fifty day moving average price of $128.34 and a 200-day moving average price of $111.11.

Insider Buying and Selling

In related news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $115.60, for a total transaction of $358,360.00. Following the completion of the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $13,846,568. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 21,925 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $115.37, for a total value of $2,529,487.25. Following the transaction, the chief executive officer now directly owns 1,997,681 shares in the company, valued at $230,472,456.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $115.60, for a total transaction of $358,360.00. Following the completion of the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $13,846,568. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,305 shares of company stock valued at $8,606,808. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Amazon.com

Large investors have recently bought and sold shares of the business. State Street Corp raised its holdings in Amazon.com by 1,869.1% during the second quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock worth $34,701,726,000 after purchasing an additional 310,134,486 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Amazon.com by 1,838.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after buying an additional 295,880,050 shares during the period. FMR LLC lifted its position in shares of Amazon.com by 1,792.4% during the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after acquiring an additional 270,931,640 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in shares of Amazon.com by 120,235.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 116,480,298 shares of the e-commerce giant’s stock worth $9,784,345,000 after acquiring an additional 116,383,502 shares during the period. Finally, Norges Bank purchased a new position in Amazon.com in the 4th quarter valued at approximately $8,263,591,000. Institutional investors and hedge funds own 56.67% of the company’s stock.

About Amazon.com

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.

Further Reading

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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