Amazon.com (NASDAQ:AMZN) Stock Price Down 0.5% – What’s Next?

04 Nov 2024, 19:04 by Mitch Edgeman · The Markets Daily

Amazon.com, Inc. (NASDAQ:AMZN) shares dropped 0.5% on Monday . The stock traded as low as $195.40 and last traded at $197.03. Approximately 12,354,647 shares changed hands during trading, a decline of 70% from the average daily volume of 41,189,301 shares. The stock had previously closed at $197.93.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Robert W. Baird lifted their price target on shares of Amazon.com from $213.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada raised their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday. Scotiabank upped their target price on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a report on Friday. Loop Capital increased their price target on Amazon.com from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Rosenblatt Securities boosted their price target on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $246.48.

Check Out Our Latest Research Report on Amazon.com

Amazon.com Price Performance

The company has a fifty day simple moving average of $184.82 and a two-hundred day simple moving average of $183.77. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 42.19, a PEG ratio of 1.42 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10.

Amazon.com (NASDAQ:AMZN – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 23.46% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. As a group, equities research analysts expect that Amazon.com, Inc. will post 4.84 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares in the company, valued at $8,820,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,855 shares of company stock valued at $9,215,048. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds and other institutional investors have recently bought and sold shares of the company. Phillips Wealth Planners LLC increased its position in Amazon.com by 9.2% during the 1st quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock valued at $487,000 after purchasing an additional 224 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Amazon.com by 0.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock valued at $550,217,000 after purchasing an additional 14,766 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Amazon.com by 19.2% in the 3rd quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock worth $22,211,000 after acquiring an additional 19,231 shares during the last quarter. Stonekeep Investments LLC purchased a new stake in shares of Amazon.com in the second quarter worth approximately $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Amazon.com by 164.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock valued at $203,677,000 after buying an additional 654,908 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Company Profile

(Get Free Report)