Amazon.com Price Target Increased to $280.00

Amazon.com (NASDAQ:AMZN) saw its price target increased by Morgan Stanley from $230.00 to $280.00, according to a report published on Monday. The firm has assigned an "overweight" rating to the company's stock, highlighting potential for growth. This new price target suggests a potential upside of approximately 28.95% compared to the company's most recent closing price.

Other brokerage firms have also recently updated their assessments of Amazon.com. Loop Capital raised its price target from $225.00 to $275.00, maintaining a "buy" rating. On the other hand, Goldman Sachs adjusted their target price from $230.00 to $240.00 with a similar "buy" rating. Furthermore, Needham & Company reaffirmed a "buy" rating and set a price target of $250.00.

JPMorgan Chase & Co. also raised its target for Amazon.com’s shares from $250.00 to $280.00 while maintaining an "overweight" rating. Roth Mkm increased their target from $220.00 to $250.00, sustaining a "buy" recommendation. Overall, there are two analysts who recommend holding the stock, forty-one who suggest buying, and one who rates it as a strong buy. Current consensus puts Amazon.com at a "Moderate Buy" with an average price target of $244.78.

Market Performance

On Monday, Amazon.com’s stock experienced a dip of 0.8%, falling by $1.80 to $217.14. During this trading session, there were 9,343,133 shares exchanged, while the typical volume averages about 27,378,797 shares. The stock's 50-day moving average is $216.20, while its 200-day moving average is $195.42. With a market capitalization of $2.28 trillion, Amazon.com has a P/E ratio of 46.50 and a beta of 1.14. The company's 12-month share price range has been between a low of $149.91 and a high of $233.00.

Recent Earnings

Amazon.com released its latest earnings results on October 31st, where it reported $1.43 earnings per share (EPS), exceeding the expected $1.14 by $0.29. The revenue for that quarter reached $158.88 billion, surpassing analysts' expectations of $157.28 billion. This represents an 11.0% increase compared to the same quarter last year. Analysts are projecting that Amazon.com will earn an EPS of 5.29 for the current fiscal year.

Insider Activity

In related news, Amazon's CEO, Douglas J. Herrington, sold 5,502 shares at an average price of $205.81, totaling approximately $1.13 million. Following this transaction, he retains 518,911 shares valued at about $106.80 million, reflecting a 1.05% decrease in his holdings. Additionally, founder Jeffrey P. Bezos sold around 2.99 million shares for about $625.79 million, after which he still holds over 917 million shares of the company.

Institutional Investments

Hedge fund activity around Amazon has been notable, with various funds adjusting their stakes. For example, Wesleyan Assurance Society acquired a new stake valued at about $1.2 million, while Value Star Asset Management Hong Kong increased theirs by 16.7%. Multiple other firms have also expanded their holdings, with data showing that 72.20% of Amazon's stock is currently owned by institutional investors.

Company Overview

Amazon.com, Inc. is involved in the sale of consumer products, advertising, and subscription services through both online and physical retail operations globally. The company operates in three main segments: North America, International, and Amazon Web Services (AWS). In addition to retail, Amazon manufactures and sells electronic devices and produces media content.

Amazon, Stocks, Earnings