Analysts Set Expectations for Amazon.com, Inc.’s Q2 2024 Earnings (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) – Wedbush boosted their Q2 2024 earnings per share estimates for shares of Amazon.com in a report released on Tuesday, April 23rd. Wedbush analyst S. Devitt now anticipates that the e-commerce giant will earn $1.01 per share 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 $4.11 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 released its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, beating the consensus estimate of $0.81 by $0.19. The company had revenue of $169.96 billion during the quarter, compared to analysts’ expectations of $165.96 billion. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS.

AMZN has been the subject of several other reports. Telsey Advisory Group reiterated an “outperform” rating and set a $200.00 target price on shares of Amazon.com in a research note on Thursday. UBS Group upped their price target on Amazon.com from $198.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley upped their price target on Amazon.com from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. TD Cowen upped their price target on Amazon.com from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, BMO Capital Markets upped their price target on Amazon.com from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $205.13.

Amazon.com Stock Performance

Amazon.com stock opened at $179.62 on Friday. The stock has a market cap of $1.87 trillion, a P/E ratio of 61.94, a price-to-earnings-growth ratio of 1.50 and a beta of 1.16. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average of $177.99 and a 200-day moving average of $158.79. Amazon.com has a 52 week low of $101.15 and a 52 week high of $189.77.

Institutional Investors Weigh In On Amazon.com

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

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 500 shares of the stock in a transaction dated 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 directly 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 can be accessed through this hyperlink. In related news, insider Jeffrey P. Bezos sold 5,998,849 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total value 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 approximately $167,140,165,034.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction dated 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 directly owns 116,560 shares of the company’s stock, valued at $18,150,723.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,214,010 shares of company stock valued at $5,505,889,146. Corporate insiders own 10.30% 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.