Q2 2024 EPS Estimates for Amazon.com, Inc. (NASDAQ:AMZN) Raised by Wedbush

Amazon.com, Inc. (NASDAQ:AMZN) – Wedbush lifted their Q2 2024 earnings per share (EPS) estimates for shares of Amazon.com in a note issued to investors on Tuesday, April 23rd. Wedbush analyst S. Devitt now anticipates that the e-commerce giant will post earnings of $1.01 per share for the quarter, up from their previous forecast of $0.94. Wedbush currently has a “Outperform” rating and a $225.00 target price on the stock. The consensus estimate for Amazon.com’s current full-year earnings is $4.10 per share. Wedbush also issued estimates for Amazon.com’s Q3 2024 earnings at $1.19 EPS, Q4 2024 earnings at $1.23 EPS, FY2024 earnings at $4.35 EPS and FY2025 earnings at $5.85 EPS.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, topping the consensus estimate of $0.81 by $0.19. The business had revenue of $169.96 billion for the quarter, compared to the consensus estimate of $165.96 billion. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. Amazon.com’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS.

Other research analysts also recently issued research reports about the company. Wolfe Research upped their price objective on Amazon.com from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Canaccord Genuity Group upped their price objective on Amazon.com from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Amazon.com in a report on Thursday. Bank of America increased their price target on Amazon.com from $185.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of Amazon.com in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amazon.com currently has an average rating of “Buy” and a consensus price target of $205.13.

Amazon.com Stock Down 1.7 %

NASDAQ:AMZN opened at $173.67 on Friday. The stock’s fifty day moving average price is $177.79 and its two-hundred day moving average price is $158.23. Amazon.com has a 52-week low of $101.15 and a 52-week high of $189.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.05. The company has a market cap of $1.80 trillion, a price-to-earnings ratio of 59.89, a P/E/G ratio of 1.53 and a beta of 1.16.

Insider Activity

In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total transaction of $523,807.00. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at $20,239,226.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total transaction of $523,807.00. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at $20,239,226.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey P. Bezos sold 5,998,849 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the transaction, the insider now owns 982,252,968 shares of the company’s stock, valued at $167,140,165,034.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,214,010 shares of company stock worth $5,505,889,146. Corporate insiders own 10.30% of the company’s stock.

Institutional Trading of Amazon.com

Several institutional investors have recently modified their holdings of AMZN. Cooksen Wealth LLC bought a new stake in Amazon.com during the fourth quarter valued at $30,000. PayPay Securities Corp boosted its position in shares of Amazon.com by 54.3% during the 3rd quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock worth $34,000 after purchasing an additional 94 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Amazon.com by 45.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 86 shares in the last quarter. Strid Group LLC bought a new position in shares of Amazon.com during the 4th quarter worth about $43,000. Finally, Harbor Investment Advisory LLC boosted its position in shares of Amazon.com by 0.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after purchasing an additional 1,988 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

About Amazon.com

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.