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

Amazon.com, Inc. (NASDAQ:AMZN) – Investment analysts at Wedbush increased their Q2 2024 earnings estimates for shares of Amazon.com in a note issued to investors on Tuesday, April 23rd. Wedbush analyst S. Devitt now forecasts that the e-commerce giant will post earnings per share of $1.01 for the quarter, up from their previous estimate 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.

A number of other equities analysts also recently issued reports on the stock. UBS Group increased their price target on shares of Amazon.com from $198.00 to $215.00 and gave the company a “buy” rating in a report on Thursday. Benchmark reiterated a “buy” rating and issued a $200.00 price target on shares of Amazon.com in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $225.00 price target on shares of Amazon.com in a report on Wednesday. Stifel Nicolaus increased their price target on shares of Amazon.com from $200.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Amazon.com from $175.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 2nd. 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 company. According to MarketBeat.com, Amazon.com has a consensus rating of “Buy” and an average target price of $205.13.

Amazon.com Stock Down 1.7 %

AMZN stock opened at $173.67 on Friday. Amazon.com has a one year low of $101.15 and a one year high of $189.77. The stock has a market capitalization of $1.80 trillion, a PE ratio of 59.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. 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 fifty day moving average of $177.79 and a 200-day moving average of $158.23.

Amazon.com (NASDAQ:AMZN) last released 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. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The company had revenue of $169.96 billion during the quarter, compared to analysts’ expectations of $165.96 billion. During the same quarter last year, the business earned $0.21 EPS. The business’s revenue was up 13.9% on a year-over-year basis.

Institutional Investors Weigh In On Amazon.com

Several hedge funds have recently modified their holdings of the business. Ridgecrest Wealth Partners LLC boosted its position in shares of Amazon.com by 0.7% in the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after acquiring an additional 56 shares during the period. Stordahl Capital Management Inc. boosted its position in shares of Amazon.com by 2.1% in the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after acquiring an additional 56 shares during the period. Echo45 Advisors LLC boosted its position in shares of Amazon.com by 0.9% in the first quarter. Echo45 Advisors LLC now owns 6,619 shares of the e-commerce giant’s stock valued at $1,194,000 after acquiring an additional 59 shares during the period. Boyd Wealth Management LLC boosted its position in shares of Amazon.com by 1.7% in the first quarter. Boyd Wealth Management LLC now owns 3,655 shares of the e-commerce giant’s stock valued at $659,000 after acquiring an additional 60 shares during the period. Finally, ShoreHaven Wealth Partners LLC boosted its position in shares of Amazon.com by 1.9% in the fourth quarter. ShoreHaven Wealth Partners LLC now owns 3,234 shares of the e-commerce giant’s stock valued at $491,000 after acquiring an additional 60 shares during the period. 72.20% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the completion of the sale, the chief executive officer now owns 116,560 shares of the company’s stock, valued at approximately $18,150,723.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Amazon.com news, CEO Andrew R. Jassy sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $168.65, for a total transaction of $8,432,500.00. Following the completion of the sale, the chief executive officer now owns 2,014,055 shares of the company’s stock, valued at $339,670,375.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the sale, the chief executive officer now directly owns 116,560 shares of the company’s stock, valued at approximately $18,150,723.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,214,010 shares of company stock valued at $5,505,889,146. 10.30% of the stock is currently owned by company insiders.

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.