Q2 2024 Earnings Estimate for Amazon.com, Inc. (NASDAQ:AMZN) Issued By Telsey Advisory Group

Amazon.com, Inc. (NASDAQ:AMZN) – Research analysts at Telsey Advisory Group boosted their Q2 2024 earnings per share estimates for Amazon.com in a research note issued to investors on Wednesday, May 1st. Telsey Advisory Group analyst J. Feldman now expects that the e-commerce giant will post earnings per share of $1.09 for the quarter, up from their previous estimate of $0.86. Telsey Advisory Group has a “Outperform” rating and a $215.00 price objective on the stock. The consensus estimate for Amazon.com’s current full-year earnings is $4.12 per share. Telsey Advisory Group also issued estimates for Amazon.com’s FY2024 earnings at $4.71 EPS.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. During the same period in the previous year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year.

Other research analysts have also recently issued research reports about the company. Raymond James lifted their target price on Amazon.com from $200.00 to $205.00 and gave the company a “strong-buy” rating in a report on Wednesday. Maxim Group cut their target price on shares of Amazon.com from $318.00 to $238.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial upped their price target on shares of Amazon.com from $216.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets raised their price objective on Amazon.com from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Sanford C. Bernstein upped their target price on Amazon.com from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amazon.com has a consensus rating of “Buy” and a consensus price target of $211.07.

Amazon.com Stock Up 3.2 %

AMZN opened at $184.72 on Friday. The stock has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 51.74, a price-to-earnings-growth ratio of 1.55 and a beta of 1.15. Amazon.com has a 12 month low of $103.28 and a 12 month high of $189.77. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.84. The business has a 50-day moving average of $178.79 and a two-hundred day moving average of $159.95.

Insider Activity at Amazon.com

In other news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $181.38, for a total value of $90,690.00. Following the transaction, the chief executive officer now directly owns 130,600 shares of the company’s stock, valued at $23,688,228. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $181.38, for a total transaction of $90,690.00. Following the transaction, the chief executive officer now owns 130,600 shares of the company’s stock, valued at approximately $23,688,228. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 5,998,849 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly 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. Insiders sold 32,213,510 shares of company stock worth $5,505,811,286 in the last quarter. 10.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cherrydale Wealth Management LLC increased its stake in shares of Amazon.com by 14.7% during the 4th quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock worth $799,000 after purchasing an additional 675 shares during the last quarter. Tompkins Financial Corp boosted its holdings in Amazon.com by 3.3% in the fourth quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock worth $10,875,000 after purchasing an additional 2,273 shares in the last quarter. Nicholas Company Inc. increased its position in Amazon.com by 3.9% during the third quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock worth $89,628,000 after buying an additional 26,465 shares during the last quarter. Nordea Investment Management AB raised its holdings in Amazon.com by 5.4% during the fourth quarter. Nordea Investment Management AB now owns 5,397,520 shares of the e-commerce giant’s stock valued at $825,065,000 after buying an additional 277,631 shares in the last quarter. Finally, Foresight Capital Management Advisors Inc. acquired a new stake in shares of Amazon.com in the fourth quarter worth about $1,891,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.