Amazon.com (NASDAQ:AMZN) Reaches New 1-Year High Following Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) achieved a new 52-week high during mid-day trading on Tuesday, following an upgrade from Benchmark, which raised their price target from $215.00 to $265.00. This upgrade has contributed to a current buy rating from the firm. At its peak, Amazon.com stock reached $241.83, eventually closing at $241.41, with a total trading volume of over 7.3 million shares. The previous close was recorded at $237.42.

Analyst Insights

A number of other analysts have also recently commented on Amazon.com. Redburn Atlantic increased their price target for the company from $225.00 to $235.00, maintaining a buy rating in a recent report. HSBC also elevated their target for Amazon shares from $225.00 to $270.00, alongside a reaffirmed buy rating. The Goldman Sachs Group has raised its target from $230.00 to $240.00 with a buy assessment, while Loop Capital similarly adjusted their target upwards from $225.00 to $275.00, continuing their buy recommendation. Finally, Needham & Company LLC has kept a buy rating intact with a new target of $250.00. Among analysts, two have rated the stock as hold, while 41 have given a buy rating, with one confident in a strong buy. Presently, Amazon carries an average rating of "Moderate Buy" and a consensus target price of $252.56.

Insider Activities

In related news, Amazon's director, Daniel P. Huttenlocher, sold 1,237 shares on Tuesday, November 19, at an average price of $199.06, totaling approximately $246,237.22. Post-sale, his remaining holdings total about 24,912 shares, valued around $4.96 million, representing a decrease of 4.73% in his position. The sale details have been officially disclosed with the SEC. Earlier, insider Jeffrey P. Bezos sold 2,996,362 shares on November 8 at an average of $208.85, amounting to around $625.79 million. After this transaction, Bezos still holds about 917 million shares, worth roughly $191.60 billion, reflecting a modest 0.33% decrease in his stake. In the last three months, insiders have sold a total of 6,027,340 shares for $1.25 billion, with insiders now owning 10.80% of the total stock.

Institutional Investments

Recent changes to institutional holdings have also been noted. Birchcreek Wealth Management LLC raised its stake by 2.2% in the fourth quarter, now holding 9,496 shares valued at $2.08 million after acquiring 205 shares last quarter. Partners Wealth Management LLC has initiated a new investment in Amazon worth approximately $1.61 million. Additionally, Black Diamond Financial LLC upped its shareholding by 3.8%, now owning 10,625 shares worth around $2.33 million after buying 393 more in the same quarter. BCGM Wealth Management LLC also increased its position by 9.8%, now holding shares worth approximately $990,000, and World Equity Group Inc. raised its stake by 1.0%, holding 30,084 shares valued at $6.60 million. Notably, institutional investors now possess 72.20% of Amazon's stock.

Current Stock Performance

Amazon.com stock has surged by 1.7% recently. The company's quick ratio stands at 0.87, while its current ratio is 1.09 and debt-to-equity ratio is 0.21. The stock’s 50-day moving average price is $223.83, and the 200-day moving average is $198.98. Amazon holds a market capitalization of $2.54 trillion, with a price-to-earnings ratio of 51.69 and a P/E/G ratio of 1.35, and a beta value of 1.15.

About Amazon.com

Amazon.com, Inc. is engaged in the retail sale of a variety of consumer products, offering advertising and subscription services through both online and physical locations in North America and worldwide. The company operates through three segments: North America, International, and Amazon Web Services (AWS). Additionally, Amazon manufactures and sells a range of electronics including Kindle devices, Fire tablets, Fire TVs, Echo products, Ring cameras, Blink devices, and eero routers, as well as produces media content.

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