Amazon.com, Inc. (NASDAQ:AMZN) to Post Q2 2024 Earnings of $1.09 Per Share, Roth Capital Forecasts

Amazon.com, Inc. (NASDAQ:AMZN) – Research analysts at Roth Capital lifted their Q2 2024 earnings per share (EPS) estimates for Amazon.com in a report released on Wednesday, May 1st. Roth Capital analyst R. Kulkarni now expects that the e-commerce giant will post earnings of $1.09 per share for the quarter, up from their prior estimate of $0.92. The consensus estimate for Amazon.com’s current full-year earnings is $4.12 per share. Roth Capital also issued estimates for Amazon.com’s Q3 2024 earnings at $1.23 EPS, Q4 2024 earnings at $1.19 EPS, Q1 2025 earnings at $1.29 EPS, Q2 2025 earnings at $1.31 EPS, Q3 2025 earnings at $1.44 EPS and Q4 2025 earnings at $1.46 EPS.

Several other analysts also recently issued reports on AMZN. Roth Mkm restated a “buy” rating and issued a $210.00 price objective (up from $205.00) on shares of Amazon.com in a research report on Wednesday. Wolfe Research raised their price target on shares of Amazon.com from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Susquehanna lifted their price target on shares of Amazon.com from $185.00 to $220.00 and gave the company a “positive” rating in a research report on Friday, February 2nd. Morgan Stanley increased their price objective on shares of Amazon.com from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price 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 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 has an average rating of “Buy” and a consensus target price of $211.07.

Amazon.com Stock Up 0.8 %

Shares of NASDAQ:AMZN opened at $186.21 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. Amazon.com has a 52-week low of $103.31 and a 52-week high of $189.77. The stock’s fifty day simple moving average is $178.79 and its 200-day simple moving average is $159.95. The company has a market capitalization of $1.93 trillion, a P/E ratio of 52.16, a P/E/G ratio of 1.55 and a beta of 1.15.

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

Institutional Trading of Amazon.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cooksen Wealth LLC purchased a new stake in shares of Amazon.com during the fourth quarter valued at $30,000. PayPay Securities Corp lifted its stake in Amazon.com by 54.3% during the third 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. lifted its stake in Amazon.com by 45.0% during the fourth 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 acquired a new position in shares of Amazon.com in the fourth quarter worth about $43,000. Finally, Harbor Investment Advisory LLC increased its position in shares of Amazon.com by 0.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 1,988 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 5,998,849 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the completion of the transaction, the insider now owns 982,252,968 shares of the company’s stock, valued at $167,140,165,034.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $180.00, for a total transaction of $90,000.00. Following the sale, the chief executive officer now owns 132,600 shares of the company’s stock, valued at $23,868,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 5,998,849 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the transaction, 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. Over the last quarter, insiders sold 32,217,010 shares of company stock valued at $5,506,442,301. 10.80% 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.