Needham & Company LLC Reaffirms Buy Rating for Amazon.com, Inc. (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, October 27th, MarketBeat.com reports. They currently have a $1,250.00 price target on the e-commerce giant’s stock, up from their prior price target of $1,150.00. Needham & Company LLC’s price target would suggest a potential upside of 9.95% from the company’s current price.

AMZN has been the subject of several other research reports. Credit Suisse Group reiterated an “outperform” rating on shares of Amazon.com in a report on Thursday, August 31st. Monness Crespi & Hardt upgraded shares of Amazon.com from a “neutral” rating to a “buy” rating and set a $1,250.00 target price for the company in a report on Friday, October 27th. Cowen and Company reissued an “outperform” rating and issued a $1,125.00 price target on shares of Amazon.com in a research report on Thursday, August 10th. Zacks Investment Research cut shares of Amazon.com from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Barclays PLC lifted their price objective on shares of Amazon.com from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and forty-nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $1,142.08.

Shares of Amazon.com (AMZN) opened at $1,136.84 on Friday. The stock has a market cap of $544,115.63, a PE ratio of 286.59, a PEG ratio of 14.08 and a beta of 1.45. Amazon.com has a 12 month low of $725.99 and a 12 month high of $1,139.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 1.03.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 26th. The e-commerce giant reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.57). The company had revenue of $43.74 billion during the quarter, compared to analysts’ expectations of $42.26 billion. Amazon.com had a net margin of 1.20% and a return on equity of 8.67%. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. research analysts predict that Amazon.com will post 4.26 earnings per share for the current year.

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In related news, CEO Jeffrey A. Wilke sold 2,800 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $955.20, for a total value of $2,674,560.00. Following the sale, the chief executive officer now owns 10,000 shares in the company, valued at approximately $9,552,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey P. Bezos sold 391,110 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $1,103.53, for a total value of $431,601,618.30. Following the completion of the sale, the chief executive officer now owns 79,891,433 shares in the company, valued at approximately $88,162,593,058.49. The disclosure for this sale can be found here. In the last three months, insiders sold 395,770 shares of company stock valued at $436,339,290. 17.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Leavell Investment Management Inc. raised its stake in Amazon.com by 0.3% in the 2nd quarter. Leavell Investment Management Inc. now owns 394 shares of the e-commerce giant’s stock valued at $381,000 after acquiring an additional 1 shares during the period. SeaBridge Investment Advisors LLC raised its stake in Amazon.com by 0.4% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 272 shares of the e-commerce giant’s stock valued at $263,000 after acquiring an additional 1 shares during the period. Probity Advisors Inc. raised its stake in Amazon.com by 0.6% in the 2nd quarter. Probity Advisors Inc. now owns 320 shares of the e-commerce giant’s stock valued at $310,000 after acquiring an additional 2 shares during the period. Venturi Wealth Management LLC raised its stake in Amazon.com by 0.3% in the 2nd quarter. Venturi Wealth Management LLC now owns 632 shares of the e-commerce giant’s stock valued at $612,000 after acquiring an additional 2 shares during the period. Finally, Regis Management CO LLC raised its stake in Amazon.com by 0.9% in the 2nd quarter. Regis Management CO LLC now owns 231 shares of the e-commerce giant’s stock valued at $224,000 after acquiring an additional 2 shares during the period. Institutional investors and hedge funds own 60.54% of the company’s stock.

Amazon.com Company Profile

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

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