Amazon.com (NASDAQ:AMZN) Sees Minimal Share Price Increase Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) experienced a slight uptick in its share price, rising 0% during mid-day trading on Monday. This movement followed an upgrade from Tigress Financial, which increased its price target on the stock from $245.00 to $290.00. The firm retains a buy rating on Amazon’s shares. During trading, Amazon's stock reached a peak of $225.43 before settling at a last traded price of $224.96. A total of approximately 6,005,267 shares exchanged hands, marking an 85% decline from the average daily trading volume of 41,271,297 shares. The previous close for the stock was $224.92.

Several other equities analysts have also recently provided insights on Amazon.com. On October 7th, Cantor Fitzgerald reiterated its “overweight” rating and set a price target of $230.00. Following this, JMP Securities reaffirmed a “market outperform” rating on December 16th, with a target of $285.00. Roth MKM raised its price objective from $220.00 to $250.00, giving the stock a buy rating on December 9th. Additionally, Bank of America increased its target from $210.00 to $230.00 and designated a buy rating on November 1st. Benchmark also upgraded its price target from $200.00 to $215.00 on the same day. Currently, among analysts, there are two ratings of hold, forty-one buy ratings, and one strong buy rating for Amazon, leading to an average rating of “Moderate Buy” and a consensus target price of $243.00 according to data from MarketBeat.com.

Corporate Insider Activity

Insider Buying and Selling at Amazon.com

In related corporate actions, Director Jonathan Rubinstein sold 4,351 shares of the company on December 9th for an average price of $229.85, totaling approximately $1,000,077. Following this sale, he retained ownership of 88,203 shares valued at around $20,273,459.55. This sale represented a 4.70% reduction in his holdings. Furthermore, CEO Douglas J. Herrington sold 3,500 shares on December 2nd at a price of $210.00, resulting in a transaction value of $735,000. Post-transaction, Herrington has 524,567 shares remaining, worth approximately $110,159,070. Over the last 90 days, insiders have sold a total of 6,032,344 shares valued at $1,253,456,822, with insiders collectively owning 10.80% of the company's stock.

Hedge Fund Activity

Hedge funds have also been actively adjusting their stakes in Amazon. Foundations Investment Advisors LLC increased its position by 9.7% during the third quarter, now owning 184,594 shares worth approximately $34,395,000 after acquiring an additional 16,392 shares. Umpqua Bank raised its holdings by 0.4%, resulting in 35,120 shares valued at $6,544,000 after adding 137 shares. Washington Trust Advisors Inc. also lifted its position by 0.4%, owning 225,254 shares valued at $41,972,000 after a minor acquisition of 982 shares. BayBridge Capital Group LLC increased its stake by 51.8%, holding 14,368 shares valued at around $2,677,000 following the purchase of an additional 4,905 shares. Lastly, Zhang Financial LLC raised its share count by 12.9%, owning 51,091 shares valued at $9,520,000. Currently, 72.20% of Amazon's stock is held by institutional investors.

Financial Overview

Amazon's market capitalization stands at $2.41 trillion, with a price-to-earnings (P/E) ratio of 49.05, a PEG ratio of 1.54, and a beta of 1.16. The company has a 50-day moving average of $206.58 and a 200-day moving average of $191.74. Financial ratios indicate a quick ratio of 0.87, a current ratio of 1.09, and a debt-to-equity ratio of 0.21.

Recently, on October 31st, Amazon reported its quarterly earnings, posting earnings per share (EPS) of $1.43, which surpassed the consensus estimate of $1.14 by $0.29. The company reported a net margin of 8.04% with a return on equity of 22.41%. Revenue reached $158.88 billion for this quarter, exceeding the estimated $157.28 billion. Compared to the same quarter last year, revenue saw an 11.0% increase. Analysts project that Amazon.com, Inc. will deliver an EPS of 5.29 for the current fiscal year.

About Amazon.com

Amazon.com, Inc. is engaged in the retail sale of consumer goods, advertising, and subscription services through both online and physical stores globally. The firm operates across three segments: North America, International, and Amazon Web Services (AWS). Additionally, Amazon manufactures and sells various electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, and smart home devices like Echo and Ring, as well as producing a range of media content.

Amazon, Stocks, Finance