Q2 2024 Earnings Forecast for Amazon.com, Inc. Issued By Wedbush (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) – Research analysts at Wedbush boosted their Q2 2024 earnings per share estimates for Amazon.com in a research note issued to investors on Tuesday, April 23rd. Wedbush analyst S. Devitt now expects that the e-commerce giant will post earnings per share of $1.01 for the quarter, up from their previous estimate of $0.94. 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 $4.10 per share. Wedbush also issued estimates for Amazon.com’s Q3 2024 earnings at $1.19 EPS, Q4 2024 earnings at $1.23 EPS, FY2024 earnings at $4.35 EPS and FY2025 earnings at $5.85 EPS.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.19. The company had revenue of $169.96 billion during the quarter, compared to the consensus estimate of $165.96 billion. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. Amazon.com’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 earnings per share.

A number of other brokerages also recently commented on AMZN. Needham & Company LLC reaffirmed a “buy” rating and issued a $205.00 price objective on shares of Amazon.com in a research report on Thursday, April 18th. Royal Bank of Canada lifted their price objective on Amazon.com from $180.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Moffett Nathanson reaffirmed a “buy” rating and issued a $228.00 price objective on shares of Amazon.com in a research report on Thursday, April 11th. Bank of America lifted their price objective on Amazon.com from $185.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company lifted their price objective on Amazon.com from $211.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $205.13.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $179.62 on Friday. The company has a market cap of $1.87 trillion, a P/E ratio of 61.94, a P/E/G ratio of 1.53 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. Amazon.com has a 52 week low of $101.15 and a 52 week high of $189.77. The business has a fifty day simple moving average of $177.99 and a 200-day simple moving average of $158.59.

Institutional Trading of Amazon.com

Institutional investors and hedge funds have recently bought and sold shares of the company. Cooksen Wealth LLC acquired a new stake in Amazon.com during the fourth quarter valued at approximately $30,000. PayPay Securities Corp raised 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. raised 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 stake in shares of Amazon.com during the 4th quarter worth approximately $43,000. Finally, Harbor Investment Advisory LLC raised its position in shares of Amazon.com by 0.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after purchasing an additional 1,988 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 500 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the completion of the transaction, the chief executive officer now owns 116,560 shares of the company’s stock, valued at $18,150,723.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Adam Selipsky sold 500 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the completion of the transaction, the chief executive officer now owns 116,560 shares of the company’s stock, valued at $18,150,723.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $180.73, for a total value of $632,555.00. Following the sale, the chief executive officer now owns 512,858 shares in the company, valued at approximately $92,688,826.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,214,010 shares of company stock valued at $5,505,889,146. Insiders own 10.30% of the company’s stock.

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.