Amazon.com (NASDAQ:AMZN) Price Target Raised to $232.00

On November 4, 2024, Deutsche Bank Aktiengesellschaft announced an increase in its price target for Amazon.com (NASDAQ:AMZN), raising it from $225.00 to $232.00. This report was communicated on Friday morning and includes a continuing buy rating for Amazon's stock.

Amazon.com has recently been a focal point for various research reports from analysts. For instance, Pivotal Research initiated coverage on Amazon’s shares on October 11, 2024, rating it as a buy with a price target set at $260.00. Similarly, Monness Crespi & Hardt adjusted their price target for the stock from $225.00 to $245.00 while maintaining a buy rating. Telsey Advisory Group also increased its target on Amazon.com’s shares from $215.00 to $235.00, indicating an outperform rating.

Additionally, Needham & Company LLC reaffirmed a buy rating and set a target price of $210.00 for Amazon.com. UBS Group raised its price target from $220.00 to $223.00, also giving the company a buy rating in a report released on October 28, 2024. Overall, two analysts have given Amazon a hold rating, while forty have assigned it buy ratings, and one has assigned a strong buy rating. According to data from MarketBeat, Amazon currently has a consensus rating of 'Moderate Buy' with an average target price of $246.02.

Amazon.com Stock Performance

On the day of the announcement, shares of AMZN opened at $197.93. The company’s financial ratios include a current ratio of 1.10, a quick ratio of 0.88, and a debt-to-equity ratio of 0.23. Over the past year, Amazon.com has recorded a low of $136.47 and a high of $201.20. The stock's 50-day moving average stands at $184.82, while the 200-day moving average is at $183.77. Currently, Amazon has a market capitalization of approximately $2.08 trillion, a PE ratio of 42.38, a P/E/G ratio of 1.42, and a beta of 1.14.

Quarterly Earnings Insights

Amazon.com recently published its quarterly earnings results on October 31, 2024. The e-commerce leader reported earnings per share (EPS) of $1.43, outperforming the analysts’ average estimates of $1.14 by $0.29. The company recorded a revenue of $158.88 billion for the quarter, surpassing the consensus estimate of $157.28 billion. Notably, Amazon's return on equity was 23.46%, and it had a net margin of 8.04%. The revenue for the quarter showed an 11.0% growth compared to the same quarter last year, marking a significant increase from $0.85 EPS reported the previous year. Analysts project that Amazon will achieve an EPS of 4.84 for the current year.

Insider Transactions

In relation to insider trading, CEO Andrew R. Jassy sold 20,784 shares of the company's stock on August 21, 2024. The shares were sold at an average price of $180.77, amounting to a total value of $3,757,123.68. Following this transaction, Jassy continues to hold 2,056,534 shares valued at approximately $371,759,651.18. The details of this transaction were reported in a filing with the Securities & Exchange Commission. Additionally, Senior Vice President David Zapolsky sold 2,190 shares on September 24, 2024, at an average price of $195.00, totaling $427,050.00. Following this sale, he retained 62,420 shares valued at around $12,171,900. Over the last three months, insiders have sold a total of 50,855 shares for approximately $9,215,048, with insiders owning 10.80% of the company's stock.

Institutional Ownership Trends

Recent changes in holdings among large investors show that Phillips Wealth Planners LLC increased its holdings in Amazon.com by 9.2% during the first quarter, now owning 2,655 shares worth $487,000. Northwestern Mutual Wealth Management Co. also raised its stake by 0.5% in the second quarter, owning 2,847,177 shares valued at $550,217,000. In the third quarter, GAMMA Investing LLC enhanced its position by 19.2%, now holding 119,205 shares worth $22,211,000. Another significant increase came from Healthcare of Ontario Pension Plan Trust Fund, which grew its position by 164.1% in the second quarter to 1,053,958 shares valued at $203,677,000. In total, institutional investors and hedge funds own about 72.20% of Amazon's stock.

Company Overview

Amazon.com, Inc. engages in the sale of consumer products, advertising, and subscriptions through both online and physical stores across North America and other international markets. The company operates through three main segments: North America, International, and Amazon Web Services (AWS). It also manufactures and markets electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, Echo devices, Ring security products, and eero home networking systems, in addition to developing media content.

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