Needham & Company LLC Raises Amazon.com (NASDAQ:AMZN) Price Target to $250.00

Amazon.com (NASDAQ:AMZN) had its price target boosted by equities researchers at Needham & Company LLC from $210.00 to $250.00 in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has a "buy" rating on the e-commerce giant's stock. Needham & Company LLC's price objective would indicate a potential upside of 18.21% from the stock's previous close.

A number of other equities analysts also recently issued reports on AMZN. Bank of America increased their price target on Amazon.com from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Morgan Stanley lifted their price target on Amazon.com from $210.00 to $230.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Pivotal Research assumed coverage on Amazon.com in a research note on Friday, October 11th. They issued a "buy" rating and a $260.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on Amazon.com from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, Evercore ISI lifted their price target on Amazon.com from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amazon.com presently has an average rating of "Moderate Buy" and an average target price of $235.45.

Amazon.com Stock Performance

Shares of AMZN traded down $2.62 during mid-day trading on Thursday, reaching $211.48. The company had a trading volume of 42,008,680 shares, compared to its average volume of 41,425,031. The stock has a market capitalization of $2.22 trillion, a P/E ratio of 45.53, a PEG ratio of 1.40 and a beta of 1.14. The stock has a 50 day moving average of $189.87 and a two-hundred day moving average of $185.36. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com has a 52-week low of $139.52 and a 52-week high of $215.90.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, analysts expect that Amazon.com will post 5.27 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jonathan Rubinstein sold 4,766 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,000,145.10. Following the completion of the transaction, the director now directly owns 94,630 shares of the company's stock, valued at $19,858,105.50. The trade was a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Jonathan Rubinstein sold 4,766 shares of the company's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,000,145.10. Following the completion of the transaction, the director now directly owns 94,630 shares of the company's stock, valued at approximately $19,858,105.50. This represents a 4.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of the company's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares of the company's stock, valued at approximately $8,820,000. This represents a 22.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,053,349 shares of company stock valued at $1,256,503,289 in the last three months. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

Several institutional investors and hedge funds have recently made changes to their positions in AMZN. Auxier Asset Management raised its stake in Amazon.com by 3.4% during the 3rd quarter. Auxier Asset Management now owns 6,090 shares of the e-commerce giant's stock valued at $1,135,000 after acquiring an additional 200 shares during the last quarter. Captrust Financial Advisors raised its stake in Amazon.com by 4.6% during the 3rd quarter. Captrust Financial Advisors now owns 1,842,976 shares of the e-commerce giant's stock valued at $343,402,000 after acquiring an additional 80,651 shares during the last quarter. William Allan Corp raised its stake in Amazon.com by 2.0% during the 3rd quarter. William Allan Corp now owns 19,319 shares of the e-commerce giant's stock valued at $3,600,000 after acquiring an additional 382 shares during the last quarter. Woodson Capital Management LP purchased a new stake in Amazon.com during the 3rd quarter valued at approximately $13,308,000. Finally, Skye Global Management LP raised its stake in Amazon.com by 4.9% during the 3rd quarter. Skye Global Management LP now owns 11,918,169 shares of the e-commerce giant's stock valued at $2,220,712,000 after acquiring an additional 560,454 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.