Morgan Stanley Boosts Amazon.com (NASDAQ:AMZN) Price Target to $2,400.00

Amazon.com (NASDAQ:AMZN) had its target price upped by analysts at Morgan Stanley from $2,200.00 to $2,400.00 in a research note issued on Friday, The Fly reports. The firm presently has an “overweight” rating on the e-commerce giant’s stock. Morgan Stanley’s target price indicates a potential upside of 28.30% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Benchmark reissued a “buy” rating and issued a $2,300.00 price target (up previously from $2,100.00) on shares of Amazon.com in a research note on Monday. JMP Securities boosted their price target on Amazon.com to $2,450.00 and gave the company an “outperform” rating in a research note on Friday. Barclays reissued a “buy” rating on shares of Amazon.com in a research note on Wednesday, January 22nd. Tigress Financial reissued a “buy” rating on shares of Amazon.com in a research note on Tuesday, December 31st. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Amazon.com in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and forty-six have assigned a buy rating to the stock. Amazon.com has an average rating of “Buy” and an average target price of $2,253.16.

Shares of NASDAQ AMZN opened at $1,870.68 on Friday. The stock has a market cap of $927.48 billion, a price-to-earnings ratio of 82.85, a PEG ratio of 2.59 and a beta of 1.50. The business has a 50 day simple moving average of $1,846.47 and a 200 day simple moving average of $1,811.90. Amazon.com has a 52 week low of $1,566.76 and a 52 week high of $2,035.80. 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 announced its quarterly earnings results on Thursday, January 30th. The e-commerce giant reported $6.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.98 by $2.49. The business had revenue of $87.44 billion during the quarter, compared to analysts’ expectations of $86.09 billion. Amazon.com had a return on equity of 22.52% and a net margin of 4.27%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.04 EPS. On average, analysts predict that Amazon.com will post 20.51 EPS for the current year.

In other Amazon.com news, CEO Jeffrey A. Wilke sold 200 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $1,865.34, for a total transaction of $373,068.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at $18,653,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey A. Wilke sold 3,475 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $1,745.57, for a total value of $6,065,855.75. Following the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $17,455,700. 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 90 days. 16.10% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Macroview Investment Management LLC raised its stake in Amazon.com by 166.7% during the third quarter. Macroview Investment Management LLC now owns 16 shares of the e-commerce giant’s stock worth $28,000 after acquiring an additional 10 shares in the last quarter. NewSquare Capital LLC raised its stake in Amazon.com by 533.3% during the fourth quarter. NewSquare Capital LLC now owns 19 shares of the e-commerce giant’s stock worth $35,000 after acquiring an additional 16 shares in the last quarter. Birch Capital Management LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at $46,000. Pflug Koory LLC increased its stake in shares of Amazon.com by 30.8% in the fourth quarter. Pflug Koory LLC now owns 34 shares of the e-commerce giant’s stock valued at $63,000 after buying an additional 8 shares in the last quarter. Finally, CXI Advisors acquired a new stake in shares of Amazon.com in the fourth quarter valued at $65,000. Hedge funds and other institutional investors own 56.39% 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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