TD Cowen Reaffirms Buy Rating on Amazon with $350 Target
TD Cowen has reaffirmed its "buy" rating on Amazon.com (NASDAQ: AMZN) stock, setting a target price of $350.00, which suggests a potential upside of 39.05% from the stock's previous close. This reaffirmation comes as other analysts have also weighed in on the e-commerce giant's prospects. Royal Bank of Canada boosted its price objective to $330.00 with an "outperform" rating, while Zacks Research downgraded the stock from "strong-buy" to "hold". Weiss Ratings and HSBC both maintained "buy" ratings, with the latter setting a $310.00 target price. Robert W. Baird also gave an "outperform" rating with a $310.00 target. Overall, 56 analysts rate Amazon.com as a "buy", while three suggest a "hold", giving the stock a consensus rating of "Moderate Buy" with an average target price of $321.63.
Amazon.com's stock recently traded up $0.18 to reach $251.70, with a trading volume of 6,603,553 shares, below its average volume of 46,647,969. The company's financial health includes a current ratio of 1.03, a quick ratio of 0.87, and a debt-to-equity ratio of 0.23. Amazon.com has a market capitalization of $2.71 trillion and a price-to-earnings ratio of 20.21. The stock has a 12-month low of $196.00 and a high of $287.20, with a 50-day moving average of $257.06 and a 200-day moving average of $248.51. The company's latest quarterly earnings report beat analysts' estimates, with earnings per share (EPS) of $5.75 compared to the expected $1.82, and revenue of $200.61 billion, exceeding the estimated $197.03 billion.
Recent insider transactions include CEO Douglas J. Herrington selling 6,362 shares at $259.01 each, totaling $1,647,821.62, and SVP David Zapolsky selling 9,258 shares at $259.77 each, amounting to $2,404,950.66. Both transactions were executed under pre-arranged Rule 10b5-1 trading plans. Insiders have sold 70,589 shares worth $18,329,015 over the last 90 days, with 8.90% of the stock owned by corporate insiders. Institutional investors and hedge funds own 72.20% of the stock, with several recently increasing their holdings.
Amazon.com has been in the news for its strategic moves, including exploring a structure to move $8 billion of Nvidia chips off its balance sheet to reduce capital pressure while expanding AI capacity. The company has also committed to a long-term agreement to support $3 billion of investment at Maryland’s Calvert Cliffs nuclear plant, securing reliable power for its AWS data centers. Analysts continue to highlight AWS, advertising, and AI as key growth drivers for Amazon, although concerns remain about the scale of AI capital requirements and potential lease costs.