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

Amazon.com, Inc. (NASDAQ:AMZN) – Equities researchers at Wedbush raised their Q2 2024 EPS estimates for Amazon.com in a research note issued to investors on Wednesday, May 1st. Wedbush analyst S. Devitt now expects that the e-commerce giant will earn $1.09 per share for the quarter, up from their previous estimate 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.

Other research analysts also recently issued research reports about the stock. UBS Group upped their price objective on shares of Amazon.com from $215.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada upped their price objective on shares of Amazon.com from $180.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $205.00 price objective on shares of Amazon.com in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Amazon.com from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wolfe Research upped their price objective on shares of Amazon.com from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $211.07.

Amazon.com Price Performance

NASDAQ:AMZN opened at $186.21 on Thursday. Amazon.com has a one year low of $103.31 and a one year high of $189.77. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.84 and a current ratio of 1.07. The firm has a market cap of $1.93 trillion, a price-to-earnings ratio of 52.16, a PEG ratio of 1.55 and a beta of 1.15. The firm’s fifty day moving average is $178.79 and its two-hundred day moving average is $159.95.

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

Institutional Trading of Amazon.com

Institutional investors and hedge funds have recently made changes to their positions in the company. 1900 Wealth Management LLC increased its stake in Amazon.com by 7.9% in the 3rd quarter. 1900 Wealth Management LLC now owns 26,006 shares of the e-commerce giant’s stock valued at $3,306,000 after buying an additional 1,899 shares during the period. Park Place Capital Corp increased its stake in shares of Amazon.com by 4.0% during the third quarter. Park Place Capital Corp now owns 22,054 shares of the e-commerce giant’s stock worth $2,804,000 after acquiring an additional 857 shares during the period. Kozak & Associates Inc. increased its stake in shares of Amazon.com by 81.9% during the third quarter. Kozak & Associates Inc. now owns 54,534 shares of the e-commerce giant’s stock worth $6,978,000 after acquiring an additional 24,549 shares during the period. Avior Wealth Management LLC lifted its position in Amazon.com by 0.3% in the third quarter. Avior Wealth Management LLC now owns 71,767 shares of the e-commerce giant’s stock valued at $9,123,000 after purchasing an additional 225 shares during the period. Finally, Founders Financial Securities LLC boosted its stake in shares of Amazon.com by 5.6% in the third quarter. Founders Financial Securities LLC now owns 40,762 shares of the e-commerce giant’s stock valued at $5,182,000 after buying an additional 2,147 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $180.29, for a total value of $631,015.00. Following the sale, the chief executive officer now directly owns 509,358 shares in the company, valued at approximately $91,832,153.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $180.29, for a total value of $631,015.00. Following the sale, the chief executive officer now directly owns 509,358 shares in the company, valued at approximately $91,832,153.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $181.38, for a total transaction of $90,690.00. Following the completion of the sale, the chief executive officer now owns 130,600 shares in the company, valued at $23,688,228. The disclosure for this sale can be found here. Insiders have sold a total of 32,217,010 shares of company stock worth $5,506,442,301 in the last ninety days. 10.80% of the stock is owned by corporate 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.