Amazon.com, Inc. (NASDAQ:AMZN) Expected to Earn Q2 2024 Earnings of $1.09 Per Share

Amazon.com, Inc. (NASDAQ:AMZN) – Stock analysts at Telsey Advisory Group boosted their Q2 2024 EPS estimates for shares of Amazon.com in a note issued to investors on Wednesday, May 1st. Telsey Advisory Group analyst J. Feldman now anticipates that the e-commerce giant will post earnings per share of $1.09 for the quarter, up from their prior estimate of $0.86. Telsey Advisory Group currently has a “Outperform” rating and a $215.00 target price on the stock. The consensus estimate for Amazon.com’s current full-year earnings is $4.55 per share. Telsey Advisory Group also issued estimates for Amazon.com’s FY2024 earnings at $4.71 EPS.

A number of other analysts have also recently weighed in on AMZN. Citigroup boosted their price objective on shares of Amazon.com from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $220.00 target price on shares of Amazon.com in a research report on Wednesday. Canaccord Genuity Group raised their price target on Amazon.com from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Stifel Nicolaus lifted their price objective on Amazon.com from $224.00 to $228.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, UBS Group increased their target price on Amazon.com from $215.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Buy” and a consensus price target of $211.07.

Amazon.com Stock Up 0.8 %

AMZN opened at $186.21 on Friday. Amazon.com has a twelve month low of $103.31 and a twelve month 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 business has a 50 day moving average price of $179.02 and a 200 day moving average price of $160.32. The firm has a market cap of $1.94 trillion, a P/E ratio of 52.16, a price-to-earnings-growth ratio of 1.37 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. The company 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 business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Cherrydale Wealth Management LLC lifted its stake in Amazon.com by 14.7% in the fourth 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 period. Tompkins Financial Corp increased its stake in shares of Amazon.com by 3.3% in the 4th quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock valued at $10,875,000 after acquiring an additional 2,273 shares during the last quarter. Nicholas Company Inc. raised its position in shares of Amazon.com by 3.9% in the 3rd quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock valued at $89,628,000 after acquiring an additional 26,465 shares during the period. Nordea Investment Management AB boosted its stake in 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 Amazon.com during the fourth quarter valued at approximately $1,891,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 20,200 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the sale, the chief executive officer now owns 514,131 shares of the company’s stock, valued at approximately $87,397,128.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jeffrey P. Bezos sold 5,998,849 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 20,200 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $169.99, for a total value of $3,433,798.00. Following the completion of the transaction, the chief executive officer now owns 514,131 shares in the company, valued at approximately $87,397,128.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,217,010 shares of company stock worth $5,506,442,301. 10.80% of the stock is currently owned by 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.