Amazon.com (NASDAQ:AMZN) Price Target Increased to $4,200.00 by Analysts at Goldman Sachs Group

Amazon.com (NASDAQ:AMZN) had its target price lifted by Goldman Sachs Group from $3,800.00 to $4,200.00 in a research note published on Friday morning, The Fly reports. Goldman Sachs Group currently has a conviction-buy rating on the e-commerce giant’s stock.

A number of other analysts also recently issued reports on AMZN. Telsey Advisory Group raised their price target on Amazon.com from $2,800.00 to $3,600.00 and gave the stock an outperform rating in a research report on Monday, July 27th. UBS Group lifted their price target on shares of Amazon.com from $3,000.00 to $4,000.00 and gave the stock a buy rating in a research note on Friday. Canaccord Genuity increased their price objective on shares of Amazon.com from $3,300.00 to $3,800.00 and gave the stock a buy rating in a research report on Friday. William Blair restated a buy rating on shares of Amazon.com in a research report on Monday, June 22nd. Finally, Guggenheim upped their target price on Amazon.com from $2,250.00 to $2,700.00 and gave the company a buy rating in a research note on Friday, May 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Amazon.com presently has a consensus rating of Buy and a consensus target price of $3,240.51.

Shares of NASDAQ:AMZN traded up $112.80 on Friday, reaching $3,164.68. The company’s stock had a trading volume of 8,083,369 shares, compared to its average volume of 5,323,443. The company has a 50-day simple moving average of $2,884.55 and a 200 day simple moving average of $2,314.52. Amazon.com has a 52-week low of $1,626.03 and a 52-week high of $3,344.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.08. The company has a market cap of $1,578.48 billion, a P/E ratio of 121.67, a PEG ratio of 5.62 and a beta of 1.32.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $8.56. Amazon.com had a return on equity of 21.51% and a net margin of 4.10%. The company had revenue of $88.91 billion during the quarter, compared to analyst estimates of $81.56 billion. On average, equities research analysts forecast that Amazon.com will post 20.12 EPS for the current fiscal year.

In other Amazon.com news, CEO Andrew R. Jassy sold 6,945 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $2,256.50, for a total transaction of $15,671,392.50. Following the sale, the chief executive officer now owns 93,105 shares in the company, valued at approximately $210,091,432.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Indra K. Nooyi acquired 27 shares of Amazon.com stock in a transaction dated Wednesday, July 1st. The stock was purchased at an average price of $2,806.80 per share, with a total value of $75,783.60. Following the completion of the purchase, the director now owns 707 shares of the company’s stock, valued at $1,984,407.60. The disclosure for this purchase can be found here. Corporate insiders own 16.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AMZN. National Asset Management Inc. boosted its holdings in shares of Amazon.com by 2.8% in the 2nd quarter. National Asset Management Inc. now owns 11,339 shares of the e-commerce giant’s stock valued at $31,284,000 after acquiring an additional 311 shares during the last quarter. Comerica Bank boosted its holdings in Amazon.com by 6.4% in the second quarter. Comerica Bank now owns 88,908 shares of the e-commerce giant’s stock valued at $275,606,000 after purchasing an additional 5,326 shares during the last quarter. Valmark Advisers Inc. boosted its holdings in Amazon.com by 25.5% in the second quarter. Valmark Advisers Inc. now owns 1,067 shares of the e-commerce giant’s stock valued at $2,944,000 after purchasing an additional 217 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA grew its position in Amazon.com by 4.0% during the 2nd quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 3,070 shares of the e-commerce giant’s stock worth $9,211,000 after purchasing an additional 117 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its stake in shares of Amazon.com by 10.7% during the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 5,201 shares of the e-commerce giant’s stock valued at $14,349,000 after buying an additional 503 shares during the last quarter. Institutional investors and hedge funds own 64.54% of the company’s stock.

Amazon.com Company Profile

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.

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