Scotiabank Issues Pessimistic Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price target cut by equities research analysts at Scotiabank from $306.00 to $250.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the e-commerce giant’s stock. Scotiabank’s target price points to a potential upside of 51.08% from the company’s current price.

Several other research analysts have also weighed in on AMZN. Wolfe Research lifted their price objective on Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Bank of America lowered their target price on Amazon.com from $257.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Morgan Stanley cut their price target on Amazon.com from $280.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Westpark Capital started coverage on shares of Amazon.com in a research note on Tuesday, April 1st. They issued a “buy” rating and a $280.00 price objective for the company. Finally, Maxim Group boosted their target price on shares of Amazon.com from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $249.90.

Amazon.com Trading Down 4.1 %

NASDAQ:AMZN traded down $7.13 during trading hours on Monday, hitting $165.48. 27,935,741 shares of the company were exchanged, compared to its average volume of 41,677,080. The stock has a market capitalization of $1.76 trillion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. Amazon.com has a one year low of $151.61 and a one year high of $242.52. The company has a fifty day simple moving average of $198.44 and a 200 day simple moving average of $208.23. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Sell-side analysts expect that Amazon.com will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 27,500 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the sale, the chief executive officer now directly owns 497,067 shares in the company, valued at $114,459,618.09. This trade represents a 5.24 % 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 stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the transaction, the chief executive officer now owns 2,118,886 shares of the company’s stock, valued at approximately $467,532,195.90. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,798 shares of company stock valued at $23,341,803. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rench Wealth Management Inc. lifted its stake in shares of Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after buying an additional 3,703 shares in the last quarter. Blankinship & Foster LLC grew its position in shares of Amazon.com by 216.4% during the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after purchasing an additional 4,740 shares in the last quarter. One Wealth Capital Management LLC purchased a new position in Amazon.com in the 4th quarter worth approximately $4,270,000. Floyd Financial Group LLC bought a new position in Amazon.com in the 4th quarter worth approximately $4,494,000. Finally, Patton Albertson Miller Group LLC raised its position in shares of Amazon.com by 2.7% during the fourth quarter. Patton Albertson Miller Group LLC now owns 18,790 shares of the e-commerce giant’s stock valued at $4,122,000 after buying an additional 495 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.