Brokers Issue Forecasts for Amazon.com, Inc.’s Q3 2022 Earnings (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) – Wedbush dropped their Q3 2022 earnings per share estimates for shares of Amazon.com in a research report issued to clients and investors on Friday, April 29th. Wedbush analyst M. Pachter now forecasts that the e-commerce giant will post earnings per share of $14.66 for the quarter, down from their previous estimate of $14.86. Wedbush also issued estimates for Amazon.com’s Q4 2022 earnings at $16.28 EPS and FY2024 earnings at $73.63 EPS.

Amazon.com (NASDAQ:AMZN – Get Rating) last announced its earnings results on Thursday, April 28th. The e-commerce giant reported ($7.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $9.33 by ($16.89). Amazon.com had a return on equity of 22.01% and a net margin of 4.48%. The business had revenue of $116.44 billion for the quarter, compared to analyst estimates of $116.52 billion. During the same quarter in the previous year, the company earned $15.79 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis.

Several other analysts have also issued reports on AMZN. Tigress Financial increased their price target on shares of Amazon.com from $4,460.00 to $4,655.00 and gave the stock a “buy” rating in a research report on Friday, February 18th. Morgan Stanley reduced their price target on shares of Amazon.com from $4,200.00 to $3,800.00 in a research report on Friday. Rosenblatt Securities assumed coverage on shares of Amazon.com in a research report on Tuesday, April 19th. They issued a “neutral” rating and a $3,000.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Amazon.com from $4,350.00 to $4,500.00 and gave the company an “overweight” rating in a research report on Friday, February 4th. Finally, DA Davidson cut their target price on shares of Amazon.com from $3,900.00 to $3,125.00 in a research report on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and thirty-six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $3,823.30.

Shares of NASDAQ:AMZN opened at $2,485.63 on Monday. The company’s 50 day moving average price is $3,056.53 and its two-hundred day moving average price is $3,226.21. Amazon.com has a 12-month low of $2,432.50 and a 12-month high of $3,773.08. The firm has a market cap of $1.26 trillion, a PE ratio of 60.00, a PEG ratio of 2.32 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 1.14 and a debt-to-equity ratio of 0.35.

Amazon.com shares are set to split before the market opens on Monday, June 6th. The 20-1 split was announced on Wednesday, March 9th. The newly minted shares will be issued to shareholders after the closing bell on Friday, June 3rd.

In related news, CEO Adam Selipsky sold 34 shares of the business’s stock in a transaction dated Wednesday, March 30th. The shares were sold at an average price of $3,370.19, for a total transaction of $114,586.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 492 shares of the business’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $3,009.57, for a total transaction of $1,480,708.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,397 shares of company stock worth $10,641,586. 14.00% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in AMZN. OLD Mission Capital LLC purchased a new stake in shares of Amazon.com during the 3rd quarter valued at approximately $605,000. Studio Investment Management LLC purchased a new stake in shares of Amazon.com during the 3rd quarter valued at approximately $1,041,000. Keudell Morrison Wealth Management lifted its stake in shares of Amazon.com by 2.7% during the 3rd quarter. Keudell Morrison Wealth Management now owns 1,472 shares of the e-commerce giant’s stock valued at $4,836,000 after buying an additional 39 shares in the last quarter. Boston Research & Management Inc. lifted its stake in Amazon.com by 7.1% in the 3rd quarter. Boston Research & Management Inc. now owns 901 shares of the e-commerce giant’s stock worth $2,959,000 after purchasing an additional 60 shares in the last quarter. Finally, Wimmer Associates 1 LLC lifted its stake in Amazon.com by 0.8% in the 3rd quarter. Wimmer Associates 1 LLC now owns 1,751 shares of the e-commerce giant’s stock worth $5,752,000 after purchasing an additional 14 shares in the last quarter. 70.01% of the stock is owned by hedge funds and other institutional investors.

About Amazon.com (Get Rating)

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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