Amazon.com (NASDAQ:AMZN) Rating Reiterated by Wedbush

Wedbush reiterated their outperform rating on shares of Amazon.com (NASDAQ:AMZN) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $225.00 price target on the e-commerce giant’s stock. Wedbush also issued estimates for Amazon.com’s Q2 2024 earnings at $1.09 EPS, Q3 2024 earnings at $1.21 EPS, Q4 2024 earnings at $1.32 EPS, FY2024 earnings at $4.60 EPS and FY2025 earnings at $5.94 EPS.

AMZN has been the topic of several other research reports. Citigroup increased their target price on Amazon.com from $215.00 to $235.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Telsey Advisory Group lifted their price target on Amazon.com from $200.00 to $215.00 and gave the company an outperform rating in a research note on Wednesday. Robert W. Baird upped their target price on Amazon.com from $205.00 to $210.00 and gave the company an outperform rating in a report on Wednesday. Sanford C. Bernstein lifted their target price on Amazon.com from $175.00 to $200.00 and gave the stock an outperform rating in a report on Friday, February 2nd. Finally, Monness Crespi & Hardt increased their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock a buy rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $211.07.

Amazon.com Price Performance

AMZN opened at $186.21 on Wednesday. The stock has a market cap of $1.94 trillion, a P/E ratio of 52.16, a P/E/G ratio of 1.37 and a beta of 1.15. Amazon.com has a 12 month low of $103.31 and a 12 month high of $189.77. The company has a quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $179.02 and a 200 day simple moving average of $160.32.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter last year, the company earned $0.31 EPS. Amazon.com’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, research analysts expect that Amazon.com will post 4.55 EPS for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $180.29, for a total transaction of $631,015.00. Following the transaction, the chief executive officer now directly owns 509,358 shares in the company, valued at $91,832,153.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $180.29, for a total value of $631,015.00. Following the completion of the sale, the chief executive officer now directly owns 509,358 shares of the company’s stock, valued at $91,832,153.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shelley Reynolds sold 3,100 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total value of $523,807.00. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at $20,239,226.60. The disclosure for this sale can be found here. Insiders sold 32,217,010 shares of company stock worth $5,506,442,301 in the last quarter. 10.80% of the stock is owned by insiders.

Institutional Trading of Amazon.com

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Amazon.com during the 4th quarter valued at $17,700,551,000. Vanguard Group Inc. boosted its holdings in shares of Amazon.com by 4.4% during the third quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock worth $96,350,832,000 after purchasing an additional 32,038,029 shares during the period. International Assets Investment Management LLC grew its stake in shares of Amazon.com by 16,029.3% in the fourth quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock worth $36,260,810,000 after purchasing an additional 23,717,254 shares during the last quarter. FMR LLC increased its holdings in Amazon.com by 7.7% during the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock valued at $38,403,135,000 after purchasing an additional 21,649,871 shares during the period. Finally, Jennison Associates LLC raised its position in Amazon.com by 28.4% during the 3rd quarter. Jennison Associates LLC now owns 54,981,548 shares of the e-commerce giant’s stock valued at $6,989,254,000 after purchasing an additional 12,176,114 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

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.