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

Amazon.com, Inc. (NASDAQ:AMZN) – Equities researchers at Wedbush boosted their Q2 2024 earnings per share estimates for Amazon.com in a report released on Wednesday, May 1st. Wedbush analyst S. Devitt now anticipates that the e-commerce giant will earn $1.09 per share for the quarter, up from their prior forecast of $1.01. 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 $4.12 per share. Wedbush also issued estimates for Amazon.com’s 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.

A number of other equities research analysts have also recently issued reports on the company. Wolfe Research upped their target price on Amazon.com from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. UBS Group increased their price objective on Amazon.com from $215.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $225.00 price objective on shares of Amazon.com in a research report on Wednesday. Telsey Advisory Group increased their price objective on Amazon.com from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $220.00 price objective on shares of Amazon.com in a research report on Wednesday. One research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $211.07.

Amazon.com Stock Up 0.8 %

Shares of Amazon.com stock opened at $186.21 on Thursday. The stock has a market capitalization of $1.93 trillion, a P/E ratio of 52.16, a PEG ratio of 1.55 and a beta of 1.15. 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 stock has a 50 day moving average price of $178.79 and a two-hundred day moving average price of $159.95. Amazon.com has a 12-month low of $103.31 and a 12-month high of $189.77.

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

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 2,009,208 shares of Amazon.com stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $166.79, for a total transaction of $335,115,802.32. Following the transaction, the insider now owns 938,251,817 shares in the company, valued at approximately $156,491,020,557.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jeffrey P. Bezos sold 2,009,208 shares of Amazon.com stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $166.79, for a total transaction of $335,115,802.32. Following the transaction, the insider now owns 938,251,817 shares in the company, valued at approximately $156,491,020,557.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $180.29, for a total value of $631,015.00. Following the transaction, the chief executive officer now owns 509,358 shares in the company, valued at approximately $91,832,153.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,217,010 shares of company stock worth $5,506,442,301. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cherrydale Wealth Management LLC raised its position in Amazon.com by 14.7% in the 4th quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock valued at $799,000 after buying an additional 675 shares during the last quarter. Tompkins Financial Corp increased its position in shares of Amazon.com by 3.3% during the 4th 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 during the last quarter. Nicholas Company Inc. increased its position in shares of Amazon.com by 3.9% during the 3rd quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock worth $89,628,000 after purchasing an additional 26,465 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Amazon.com by 5.4% during the 4th quarter. Nordea Investment Management AB now owns 5,397,520 shares of the e-commerce giant’s stock worth $825,065,000 after acquiring an additional 277,631 shares during the last quarter. Finally, Foresight Capital Management Advisors Inc. acquired a new position in shares of Amazon.com during the 4th quarter worth approximately $1,891,000. Institutional investors and hedge funds 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.