Amazon.com (NASDAQ:AMZN) Price Target Raised to $3,500.00 at Oppenheimer

Amazon.com (NASDAQ:AMZN) had its price objective hoisted by Oppenheimer from $2,700.00 to $3,500.00 in a report released on Friday morning, The Fly reports. The brokerage currently has an outperform rating on the e-commerce giant’s stock.

A number of other brokerages have also recently weighed in on AMZN. DZ Bank restated a buy rating on shares of Amazon.com in a report on Wednesday, July 8th. Needham & Company LLC reissued a buy rating and set a $3,700.00 price objective (up from $3,200.00) on shares of Amazon.com in a research note on Friday. Piper Sandler upgraded Amazon.com to a buy rating in a report on Monday, June 1st. Tigress Financial reaffirmed a buy rating on shares of Amazon.com in a report on Wednesday, April 8th. Finally, Susquehanna Bancshares reissued a positive rating and issued a $3,000.00 price target (up previously from $2,500.00) on shares of Amazon.com in a research note on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Amazon.com currently has an average rating of Buy and an average target price of $3,240.51.

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

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $10.30 EPS for the quarter, topping the Zacks’ 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 for the quarter, compared to the consensus estimate of $81.56 billion. On average, equities research analysts predict that Amazon.com will post 20.12 earnings per share for the current fiscal year.

In related news, Director Patricia Q. Stonesifer sold 2,200 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $2,329.44, for a total transaction of $5,124,768.00. Following the transaction, the director now owns 4,645 shares of the company’s stock, valued at $10,820,248.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 6,945 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 93,105 shares in the company, valued at approximately $210,091,432.50. The disclosure for this sale can be found here. Insiders own 16.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. raised its stake in shares of Amazon.com by 23.9% during the 4th quarter. Sunbelt Securities Inc. now owns 7,401 shares of the e-commerce giant’s stock worth $13,500,000 after purchasing an additional 1,430 shares in the last quarter. IMS Capital Management increased its stake in Amazon.com by 49.0% during the 1st quarter. IMS Capital Management now owns 1,550 shares of the e-commerce giant’s stock valued at $3,022,000 after purchasing an additional 510 shares in the last quarter. Woodstock Corp increased its stake in Amazon.com by 10.6% during the 1st quarter. Woodstock Corp now owns 178 shares of the e-commerce giant’s stock valued at $347,000 after purchasing an additional 17 shares in the last quarter. Fulton Bank N.A. raised its holdings in Amazon.com by 10.7% during the first quarter. Fulton Bank N.A. now owns 6,531 shares of the e-commerce giant’s stock worth $12,733,000 after buying an additional 629 shares during the last quarter. Finally, Wiley BROS. Aintree Capital LLC lifted its stake in shares of Amazon.com by 5.6% in the first quarter. Wiley BROS. Aintree Capital LLC now owns 563 shares of the e-commerce giant’s stock valued at $1,098,000 after buying an additional 30 shares in the last quarter. 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.

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