Q2 2024 Earnings Forecast for Amazon.com, Inc. Issued By Wedbush (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) – Analysts at Wedbush lifted their Q2 2024 earnings per share (EPS) estimates for Amazon.com in a research report issued to clients and investors on Tuesday, April 23rd. Wedbush analyst S. Devitt now forecasts 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 has a “Outperform” rating and a $225.00 price objective 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 posted its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.19. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The company had revenue of $169.96 billion for the quarter, compared to analyst estimates of $165.96 billion. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year.

Several other brokerages also recently weighed in on AMZN. Piper Sandler raised their price target on Amazon.com from $185.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Royal Bank of Canada raised their price target on Amazon.com from $180.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Mizuho raised their price target on Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. BMO Capital Markets raised their price target on Amazon.com from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Canaccord Genuity Group raised their price target on Amazon.com from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $205.13.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $179.62 on Friday. 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 $1.87 trillion, a PE ratio of 61.94, a P/E/G ratio of 1.53 and a beta of 1.16. The business has a 50-day simple moving average of $177.99 and a two-hundred day simple moving average of $158.59. Amazon.com has a fifty-two week low of $101.15 and a fifty-two week high of $189.77.

Institutional Trading of Amazon.com

Several large investors have recently made changes to their positions in AMZN. Cooksen Wealth LLC purchased a new stake in Amazon.com in the 4th quarter valued at $30,000. PayPay Securities Corp grew its holdings in Amazon.com by 54.3% in the 3rd quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock valued at $34,000 after buying an additional 94 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in Amazon.com by 45.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 86 shares in the last quarter. Strid Group LLC purchased a new stake in Amazon.com in the 4th quarter valued at $43,000. Finally, Harbor Investment Advisory LLC grew its holdings in Amazon.com by 0.7% in the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after buying an additional 1,988 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 transaction of $77,860.00. Following the completion of the sale, the chief executive officer now directly owns 116,560 shares in the company, valued at $18,150,723.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Douglas J. Herrington sold 20,200 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the completion of the sale, the chief executive officer now directly owns 514,131 shares in the company, valued at $87,397,128.69. 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 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 sale, the chief executive officer now owns 116,560 shares of the company’s stock, valued at $18,150,723.20. 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. 10.30% of the stock is owned by corporate insiders.

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.