Amazon.com (NASDAQ:AMZN) PT Raised to $176.00

Posted by on Aug 6th, 2023

Amazon.com (NASDAQ:AMZN) had its price objective lifted by investment analysts at Truist Financial from $144.00 to $176.00 in a note issued to investors on Friday, MarketBeat reports. The firm currently has a “buy” rating on the e-commerce giant’s stock. Truist Financial’s target price would indicate a potential upside of 26.10% from the company’s previous close.

AMZN has been the subject of several other research reports. CICC Research started coverage on shares of Amazon.com in a report on Sunday, July 9th. They issued an “outperform” rating for the company. Wells Fargo & Company initiated coverage on shares of Amazon.com in a research report on Wednesday, June 7th. They set an “overweight” rating and a $159.00 target price for the company. Oppenheimer dropped their price objective on shares of Amazon.com from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 6th. Needham & Company LLC boosted their target price on Amazon.com from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 28th. Finally, Citigroup raised their price target on Amazon.com from $145.00 to $167.00 and gave the company a “buy” rating in a report on Friday. 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.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $156.71.

Amazon.com Trading Up 8.3 %

Shares of AMZN 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 firm has a fifty day moving average price of $128.34 and a 200-day moving average price of $111.11. The company has a market cap 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.

Insider Activity

In related news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $126.27, for a total transaction of $63,135.00. Following the transaction, the chief executive officer now directly owns 152,780 shares of the company’s stock, valued at approximately $19,291,530.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $126.27, for a total transaction of $63,135.00. Following the sale, the chief executive officer now owns 152,780 shares in the company, valued at $19,291,530.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew R. Jassy sold 21,925 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $115.37, for a total transaction of $2,529,487.25. Following the transaction, the chief executive officer now owns 1,997,681 shares in the company, valued at approximately $230,472,456.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,305 shares of company stock worth $8,606,808. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several hedge funds have recently made changes to their positions in the company. St. James Investment Advisors LLC increased its holdings in Amazon.com by 97.7% in the 4th quarter. St. James Investment Advisors LLC now owns 344 shares of the e-commerce giant’s stock worth $29,000 after buying an additional 170 shares during the period. Laurel Wealth Planning LLC lifted its position in Amazon.com by 1,900.0% during the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock valued at $34,000 after purchasing an additional 304 shares during the period. Sanctuary Wealth Management L.L.C. purchased a new stake in Amazon.com in the fourth quarter valued at $37,000. Swaine & Leidel Wealth Services LLC purchased a new position in shares of Amazon.com during the 1st quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. acquired a new position in shares of Amazon.com in the 4th quarter valued at about $40,000. 56.67% of the stock is owned by institutional investors and hedge funds.

Amazon.com Company Profile

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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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Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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