JMP Securities Increases Amazon.com (NASDAQ:AMZN) Price Target to $175.00

Posted by on Aug 6th, 2023

Amazon.com (NASDAQ:AMZN) had its target price upped by equities researchers at JMP Securities from $140.00 to $175.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the e-commerce giant’s stock. JMP Securities’ price objective would indicate a potential upside of 25.39% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company initiated coverage on shares of Amazon.com in a research note on Wednesday, June 7th. They issued an “overweight” rating and a $159.00 price objective for the company. Telsey Advisory Group increased their target price on shares of Amazon.com from $125.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, July 12th. Robert W. Baird lifted their price target on shares of Amazon.com from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. Truist Financial increased their price objective on Amazon.com from $142.00 to $144.00 in a report on Wednesday, April 12th. Finally, Piper Sandler upped their target price on Amazon.com from $130.00 to $150.00 in a research report on Wednesday, June 7th. Three analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. According to data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and a consensus target price of $156.71.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $139.57 on Friday. Amazon.com has a 12 month low of $81.43 and a 12 month high of $146.57. The stock’s fifty day moving average price is $128.34 and its 200-day moving average price is $111.11. The firm has a market cap of $1.43 trillion, a P/E ratio of 109.90, a P/E/G ratio of 2.46 and a beta of 1.26. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.43.

Insider Activity

In related news, VP Shelley Reynolds sold 3,100 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $115.60, for a total value of $358,360.00. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at $13,846,568. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Amazon.com news, CEO Adam Selipsky sold 10,760 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $110.33, for a total value of $1,187,150.80. Following the transaction, the chief executive officer now owns 150,120 shares of the company’s stock, valued at $16,562,739.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Shelley Reynolds sold 3,100 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $115.60, for a total transaction of $358,360.00. Following the transaction, the vice president now directly 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 90 days, insiders have sold 73,305 shares of company stock valued at $8,606,808. 12.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Several large investors have recently made changes to their positions in the stock. Bridgefront Capital LLC acquired a new stake in shares of Amazon.com in the first quarter valued at $228,000. Krane Funds Advisors LLC lifted its position in shares of Amazon.com by 239.1% during the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock worth $254,000 after purchasing an additional 55 shares in the last quarter. Range Financial Group LLC purchased a new position in shares of Amazon.com in the first quarter valued at approximately $258,000. My Personal CFO LLC acquired a new position in shares of Amazon.com in the first quarter valued at approximately $261,000. Finally, Worth Asset Management LLC acquired a new position in shares of Amazon.com in the first quarter worth $191,000. 56.67% of the stock is currently owned by institutional investors and hedge funds.

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.

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