Amazon.com, Inc. (AMZN) PT Set at $1,150.00 by Needham & Company LLC

Amazon.com, Inc. (NASDAQ:AMZN) has been given a $1,150.00 price objective by research analysts at Needham & Company LLC in a research note issued on Friday. The firm presently has a “buy” rating on the e-commerce giant’s stock. Needham & Company LLC’s price target points to a potential upside of 21.66% from the company’s current price.

A number of other brokerages have also recently issued reports on AMZN. Canaccord Genuity reiterated a “buy” rating and issued a $1,150.00 target price (up from $900.00) on shares of Amazon.com in a report on Friday, April 28th. Aegis reiterated a “buy” rating and issued a $1,069.00 target price (up from $953.00) on shares of Amazon.com in a report on Friday, April 28th. UBS AG reissued a “buy” rating and issued a $1,100.00 price target (up from $930.00) on shares of Amazon.com in a research report on Friday, April 28th. Deutsche Bank AG increased their price target on Amazon.com from $1,050.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $1,150.00 price target on shares of Amazon.com in a research report on Friday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $1,078.80.

Shares of Amazon.com (AMZN) traded down 0.75% during mid-day trading on Friday, hitting $945.26. The stock had a trading volume of 3,324,791 shares. The company has a market cap of $454.08 billion, a PE ratio of 240.40 and a beta of 1.48. The stock’s 50-day moving average is $993.73 and its 200 day moving average is $935.81. Amazon.com has a 12 month low of $710.10 and a 12 month high of $1,083.31.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, July 27th. The e-commerce giant reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by $1.00. The business had revenue of $37.96 billion for the quarter, compared to analyst estimates of $37.18 billion. Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 EPS. On average, equities research analysts forecast that Amazon.com will post $3.82 earnings per share for the current fiscal year.

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In other Amazon.com news, VP Shelley Reynolds sold 544 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $986.52, for a total transaction of $536,666.88. Following the transaction, the vice president now directly owns 6,533 shares in the company, valued at approximately $6,444,935.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 1,985 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $986.12, for a total value of $1,957,448.20. Following the transaction, the chief executive officer now owns 81,479 shares in the company, valued at $80,348,071.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,263 shares of company stock worth $15,094,906. Company insiders own 17.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trust Co increased its position in Amazon.com by 7.5% in the fourth quarter. Trust Co now owns 900 shares of the e-commerce giant’s stock valued at $675,000 after buying an additional 63 shares during the last quarter. Fulton Bank N.A. increased its position in Amazon.com by 234.9% in the first quarter. Fulton Bank N.A. now owns 2,532 shares of the e-commerce giant’s stock valued at $2,244,000 after buying an additional 1,776 shares during the last quarter. CENTRAL TRUST Co increased its position in Amazon.com by 6.4% in the first quarter. CENTRAL TRUST Co now owns 12,111 shares of the e-commerce giant’s stock valued at $10,737,000 after buying an additional 728 shares during the last quarter. Pure Financial Advisors Inc. increased its position in Amazon.com by 1.7% in the first quarter. Pure Financial Advisors Inc. now owns 649 shares of the e-commerce giant’s stock valued at $575,000 after buying an additional 11 shares during the last quarter. Finally, Atlas Brown Inc. increased its position in Amazon.com by 13.2% in the first quarter. Atlas Brown Inc. now owns 875 shares of the e-commerce giant’s stock valued at $776,000 after buying an additional 102 shares during the last quarter. Institutional investors own 61.90% of the company’s stock.

Amazon.com Company Profile

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.