Amazon.com (NASDAQ:AMZN) Given New $3,500.00 Price Target at Raymond James

Amazon.com (NASDAQ:AMZN) had its price target increased by Raymond James from $2,525.00 to $3,500.00 in a report issued on Friday, The Fly reports. The firm currently has an outperform rating on the e-commerce giant’s stock.

Several other research firms have also recently issued reports on AMZN. Piper Sandler upgraded shares of Amazon.com to a buy rating in a research note on Monday, June 1st. Wells Fargo & Co increased their target price on shares of Amazon.com from $3,000.00 to $3,600.00 and gave the stock an overweight rating in a research note on Monday, July 27th. Susquehanna Bancshares restated a positive rating and set a $3,000.00 price objective (up previously from $2,500.00) on shares of Amazon.com in a research report on Friday, May 1st. JPMorgan Chase & Co. restated a buy rating on shares of Amazon.com in a research report on Monday, May 4th. Finally, China International Capital raised their price objective on shares of Amazon.com from $1,850.00 to $2,162.00 in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $3,240.51.

Shares of AMZN stock traded up $112.80 during trading on Friday, reaching $3,164.68. 8,083,369 shares of the company’s stock traded hands, compared to its average volume of 5,323,443. The company has a market capitalization of $1,578.48 billion, a P/E ratio of 121.67, a PEG ratio of 5.62 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $2,884.55 and its 200 day moving average is $2,314.52. Amazon.com has a 1 year low of $1,626.03 and a 1 year high of $3,344.29.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $8.56. The company had revenue of $88.91 billion for the quarter, compared to analysts’ expectations of $81.56 billion. Amazon.com had a net margin of 4.10% and a return on equity of 21.51%. As a group, sell-side analysts predict that Amazon.com will post 20.12 earnings per share for the current fiscal year.

In other news, Director Indra K. Nooyi bought 27 shares of Amazon.com stock in a transaction on Wednesday, July 1st. The shares were purchased at an average price of $2,806.80 per share, for a total transaction of $75,783.60. Following the acquisition, the director now owns 707 shares of the company’s stock, valued at $1,984,407.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patricia Q. Stonesifer sold 2,200 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $2,329.44, for a total value of $5,124,768.00. Following the transaction, the director now owns 4,645 shares in the company, valued at approximately $10,820,248.80. The disclosure for this sale can be found here. Corporate insiders own 16.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Gantzert Investment Co. LLC ADV purchased a new position in shares of Amazon.com during the 2nd quarter worth approximately $28,000. Deane Retirement Strategies Inc. grew its stake in shares of Amazon.com by 142.9% in the 1st quarter. Deane Retirement Strategies Inc. now owns 17 shares of the e-commerce giant’s stock worth $33,000 after buying an additional 10 shares during the last quarter. Your Advocates Ltd. LLP purchased a new stake in shares of Amazon.com in the 1st quarter worth approximately $37,000. James Investment Research Inc. purchased a new stake in shares of Amazon.com in the 2nd quarter worth approximately $55,000. Finally, Spence Asset Management grew its stake in shares of Amazon.com by 57.1% in the 2nd quarter. Spence Asset Management now owns 22 shares of the e-commerce giant’s stock worth $61,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 64.54% of the company’s stock.

About Amazon.com

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

Featured Story: Trading Ex-Dividend Strategy

The Fly

Analyst Recommendations for Amazon.com (NASDAQ:AMZN)

Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.