Amazon.com (NASDAQ: AMZN) has received a revised price target of $218.00 from Desjardins, according to a report released on November 20. This adjustment suggests a potential downside of approximately 3.92% from the stock’s current price. The e-commerce giant has garnered attention from various research firms lately, reflecting a diverse range of perspectives on its stock performance.
CICC Research previously increased its target price for Amazon.com from $240.00 to $280.00 and assigned an “outperform” rating in a report dated November 5. Shortly thereafter, on November 18, Mizuho downgraded Amazon’s shares from a “strong-buy” rating to a “hold” rating, indicating a shift in their market outlook. Additionally, on October 27, Arete Research raised its price target from $248.00 to $253.00 while maintaining a “buy” rating.
Telsey Advisory Group also boosted its price objective, increasing it from $265.00 to $300.00, which they communicated in a note on October 31. In the same vein, Barclays reaffirmed an “overweight” rating and raised its price target from $275.00 to $300.00 on October 31. Overall, one analyst has assigned a Strong Buy rating to Amazon, while fifty-six others have issued a Buy rating and three have opted for Hold. As per data from MarketBeat.com, the stock maintains a consensus rating of “Moderate Buy” and a target price of $295.35.
Recent Earnings Performance
Amazon.com recently reported its quarterly earnings on October 30, showcasing a solid performance. The company posted an earnings per share (EPS) of $1.95, surpassing analysts’ expectations of $1.57 by $0.38. The firm generated revenues of $180.17 billion, exceeding analyst forecasts of $177.53 billion. Year-over-year, Amazon’s revenue increased by 13.4%, reflecting robust growth. The company also reported a return on equity of 23.62% and a net margin of 11.06%. Analysts anticipate that Amazon will deliver an EPS of $6.31 for the current fiscal year.
Insider Transactions and Institutional Activity
In recent insider trading news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon stock on November 20 at an average price of $226.61, totaling approximately $280,316.57. Following this transaction, Huttenlocher retains 26,148 shares valued at around $5,925,398.28, marking a 4.52% decrease in his ownership.
CEO Douglas J. Herrington also engaged in stock sales, offloading 2,500 shares on December 1 for an average price of $233.22, amounting to roughly $583,050.00. After this sale, Herrington’s remaining shares total 505,934, valued at approximately $117,993,927.48, reflecting a 0.49% decrease in his position. Over the last ninety days, insiders have sold 82,234 shares worth $19,076,767, with company insiders currently holding 10.80% of the stock.
Recent hedge fund activity indicates increased interest in Amazon.com. Painted Porch Advisors LLC raised its holdings by 51.0% in the third quarter, acquiring an additional 1,978 shares, bringing its total to 5,855 shares valued at $1,286,000. Other firms, such as MRP Capital Investments LLC and Saranac Partners Ltd, also established new stakes during the same period, contributing to a growing interest from institutional investors. Notably, institutional ownership of Amazon’s stock stands at 72.20%.
Amazon.com, Inc. continues to engage in the retail sale of consumer products, advertising, and subscription services globally. It operates through segments including North America, International, and Amazon Web Services (AWS). The company also manufactures electronic devices and produces media content, underscoring its diverse business operations.
