Amazon.com (NASDAQ:AMZN) PT Raised to $2,600.00 at Goldman Sachs Group

Amazon.com (NASDAQ:AMZN) had its price target upped by analysts at Goldman Sachs Group from $2,200.00 to $2,600.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. Goldman Sachs Group’s price target would suggest a potential upside of 28.16% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Piper Jaffray Companies dropped their price objective on shares of Amazon.com from $2,225.00 to $2,150.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Stifel Nicolaus reiterated a “buy” rating and set a $2,400.00 price objective (up previously from $2,150.00) on shares of Amazon.com in a research note on Friday. Telsey Advisory Group increased their price objective on shares of Amazon.com from $2,200.00 to $2,350.00 and gave the stock an “outperform” rating in a research note on Friday. China Renaissance Securities initiated coverage on shares of Amazon.com in a research note on Tuesday, November 26th. They set a “hold” rating and a $1,850.00 price objective on the stock. Finally, Macquarie set a $2,200.00 price objective on shares of Amazon.com and gave the stock a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and forty-seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $2,309.64.

Shares of AMZN stock traded up $158.01 during trading hours on Friday, hitting $2,028.69. 12,173,316 shares of the company were exchanged, compared to its average volume of 3,146,858. The stock has a market capitalization of $1,003.71 billion, a price-to-earnings ratio of 89.84, a P/E/G ratio of 2.59 and a beta of 1.50. Amazon.com has a one year low of $1,566.76 and a one year high of $2,035.80. The business’s 50-day simple moving average is $1,846.47 and its two-hundred day simple moving average is $1,811.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.84 and a current ratio of 1.10.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, January 30th. The e-commerce giant reported $6.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.98 by $2.49. Amazon.com had a return on equity of 22.52% and a net margin of 4.27%. The business had revenue of $87.44 billion for the quarter, compared to analyst estimates of $86.09 billion. During the same period in the prior year, the company posted $6.04 EPS. The business’s revenue was up 20.8% compared to the same quarter last year. As a group, analysts anticipate that Amazon.com will post 20.51 EPS for the current fiscal year.

In other news, VP Shelley Reynolds sold 379 shares of Amazon.com stock in a transaction on Friday, November 15th. The stock was sold at an average price of $1,750.66, for a total transaction of $663,500.14. Following the transaction, the vice president now directly owns 6,307 shares in the company, valued at approximately $11,041,412.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian T. Olsavsky sold 1,265 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $1,760.05, for a total value of $2,226,463.25. Following the completion of the sale, the chief financial officer now directly owns 2,480 shares in the company, valued at approximately $4,364,924. The disclosure for this sale can be found here. Insiders sold 9,892 shares of company stock valued at $17,337,645 over the last quarter. Insiders own 16.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Oakworth Capital Inc. grew its stake in shares of Amazon.com by 9.0% in the 4th quarter. Oakworth Capital Inc. now owns 1,545 shares of the e-commerce giant’s stock worth $2,923,000 after purchasing an additional 127 shares during the last quarter. Benchmark Financial Wealth Advisors LLC raised its holdings in shares of Amazon.com by 18.8% in the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 1,381 shares of the e-commerce giant’s stock worth $2,552,000 after purchasing an additional 219 shares in the last quarter. Laurel Wealth Advisors LLC raised its holdings in shares of Amazon.com by 102.7% in the 4th quarter. Laurel Wealth Advisors LLC now owns 1,445 shares of the e-commerce giant’s stock worth $2,670,000 after purchasing an additional 732 shares in the last quarter. Bray Capital Advisors lifted its stake in Amazon.com by 0.9% during the fourth quarter. Bray Capital Advisors now owns 3,761 shares of the e-commerce giant’s stock valued at $6,950,000 after purchasing an additional 34 shares during the last quarter. Finally, Ledyard National Bank lifted its stake in Amazon.com by 1.0% during the fourth quarter. Ledyard National Bank now owns 7,647 shares of the e-commerce giant’s stock valued at $14,130,000 after purchasing an additional 76 shares during the last quarter. 56.39% of the stock is currently owned by hedge funds and other institutional investors.

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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