Needham & Company LLC Reiterates “Buy” Rating on Amazon.com (NASDAQ:AMZN)

Amazon.com (NASDAQ: AMZN)Needham & Company LLC investment analysts reiterated a “buy” rating in a note to investors on Monday, Benzinga reports. They currently have a price target of $205.00 on the e-commerce giant’s stock. The Needham & Company LLC price target indicates a potential upside of 6.08% from the current stock price.

Other analysts have also recently published research reports on the company. Piper Sandler increased their price target on Amazon.com from $205.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Roth Mkm reissued a “buy” rating and set a $210.00 price target (up from $205.00) for shares of Amazon.com on Wednesday, May 1st. Wells Fargo & Company raised their price target on Amazon.com from $234.00 to $239.00 and gave the stock an “overweight” rating in a research report on Friday. Monness Crespi & Hardt raised their target price on Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, DA Davidson reiterated a “buy” rating on the stock and issued a $235.00 price target for shares of Amazon.com in a research note on Thursday, April 18th. One investment analyst has rated the company with a hold rating, forty-three analysts have issued a buy rating to the company and one has issued a strong buy rating to the company. Amazon.com currently has an average rating of “Buy” and a consensus price target of $215.86, according to MarketBeat.com.

Check out our latest report on AMZN

Amazon.com sees a 2.3% drop

AMZN opened at $193.25 on Monday. The stock’s fifty-day moving average is $183.87 and its two-hundred-day moving average is $173.28. The company has a market capitalization of $2.01 trillion, a P/E ratio of 54.13, a PEG ratio of 1.38 and a beta of 1.15. Amazon.com has a 52-week low of $118.35 and a 52-week high of $199.84. The company has a current ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN – Get Free Report) last released its quarterly earnings data on Tuesday, April 30. The e-commerce giant reported $0.98 EPS for the quarter, $0.15 above the consensus estimate of $0.83. The company had revenue of $143.31 billion for the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. Amazon.com’s quarterly revenue increased 12.5% year-over-year. During the same period last year, the company saw EPS of $0.31. Analysts are forecasting that Amazon.com will see 4.72 earnings per share for the current year.

Buying and selling confidential information

In related news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Monday, June 3. The shares were sold at an average price of $177.29, for a total transaction value of $620,515.00. Following the completion of the transaction, the CEO now owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The sale was disclosed in legal documents filed with the SEC, which can be accessed through the SEC’s website. In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Monday, June 3. The shares were sold at an average price of $177.29, for a total transaction value of $620,515.00. Following the completion of the transaction, the CEO now owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in legal documents filed with the Securities and Exchange Commission, which can be accessed through this hyperlink . Additionally, Vice President Shelley Reynolds sold 2,700 shares of the company’s stock in a transaction on Tuesday, May 21. The shares were sold at an average price of $181.39, for a total transaction value of $489,753.00. Following the completion of the transaction, the Vice President now owns 119,780 shares of the company’s stock, valued at approximately $21,726,894.20. Disclosure of this sale can be found here . In the last quarter, insiders sold 61,838 shares of the company’s stock valued at $11,261,789. Insiders own 10.80% of the company’s stock.

Institutional inflows and outflows

Several major investors have recently added to or reduced their holdings in the company. Bright Futures Wealth Management LLC. bought a new position in Amazon.com in the first quarter worth about $7,289,000. Old Port Advisors increased its holdings in Amazon.com by 3.8% in the first quarter. Old Port Advisors now owns 7,484 shares of the e-commerce giant’s stock worth $1,350,000 after purchasing an additional 272 shares in the last quarter. TruNorth Capital Management LLC bought a new position in Amazon.com in the first quarter worth about $344,000. Chelsea Counsel Co. increased its holdings in Amazon.com by 1.5% in the first quarter. Chelsea Counsel Co. now owns 11,820 shares of the e-commerce giant’s stock worth $2,132,000 after purchasing an additional 180 shares in the last quarter. Finally, during the first quarter, Keynote Financial Services LLC acquired a new position in Amazon.com valued at approximately $1,505,000. 72.20% of the shares are owned by hedge funds and other institutional investors.

About Amazon.com

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Amazon.com, Inc. is a retailer of consumer products, advertising, and subscription services through online and physical stores in North America and internationally. The company operates in three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TV, Echo, Ring, Blink, and eero televisions; and develops and produces media content.

Amazon.com sees a 2.3% drop

Buying and selling confidential information

Institutional inflows and outflows

About Amazon.com

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