Brokers Offer Predictions for Amazon.com, Inc.’s Q2 2024 Earnings (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) – Equities researchers at Wedbush raised their Q2 2024 earnings per share (EPS) estimates for Amazon.com in a note issued to investors 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 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 $4.08 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.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a return on equity of 20.73% and a net margin of 6.38%. The company had revenue of $143.31 billion for the quarter, compared to analyst estimates of $142.65 billion. During the same quarter last year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 12.5% on a year-over-year basis.

A number of other analysts have also commented on the company. Stifel Nicolaus lifted their price target on Amazon.com from $224.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday. Robert W. Baird raised their target price on Amazon.com from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday. DA Davidson reiterated a “buy” rating and issued a $235.00 price target on shares of Amazon.com in a research report on Thursday, April 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price target on shares of Amazon.com in a research report on Wednesday. Finally, Evercore ISI lifted their price target on Amazon.com from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $210.18.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $179.00 on Thursday. The business’s fifty day simple moving average is $178.59 and its 200 day simple moving average is $159.78. The firm has a market capitalization of $1.86 trillion, a P/E ratio of 50.14, a price-to-earnings-growth ratio of 1.53 and a beta of 1.15. Amazon.com has a 12 month low of $101.15 and a 12 month high of $189.77. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29.

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 3,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total transaction of $523,807.00. Following the completion of the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $20,239,226.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Shelley Reynolds sold 3,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total transaction of $523,807.00. Following the completion of the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $20,239,226.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP David Zapolsky sold 10,920 shares of Amazon.com stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $169.21, for a total value of $1,847,773.20. Following the completion of the sale, the senior vice president now directly owns 59,100 shares of the company’s stock, valued at approximately $10,000,311. The disclosure for this sale can be found here. Insiders sold a total of 32,213,510 shares of company stock valued at $5,505,811,286 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Institutional investors and hedge funds have recently modified their holdings of the business. Cooksen Wealth LLC purchased a new position in shares of Amazon.com in the 4th quarter worth $30,000. PayPay Securities Corp boosted its stake in shares of Amazon.com by 54.3% in the 3rd quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock worth $34,000 after buying an additional 94 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Amazon.com by 45.0% in 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 buying an additional 86 shares during the last quarter. Strid Group LLC purchased a new position in shares of Amazon.com in the 4th quarter worth $43,000. Finally, Clarity Asset Management Inc. purchased a new position in shares of Amazon.com in the 4th quarter worth $46,000. Institutional investors 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.