Q2 2024 Earnings Estimate for Amazon.com, Inc. (NASDAQ:AMZN) Issued By Seaport Res Ptn

Amazon.com, Inc. (NASDAQ:AMZN) – Stock analysts at Seaport Res Ptn increased their Q2 2024 earnings per share (EPS) estimates for shares of Amazon.com in a report issued on Wednesday, May 1st. Seaport Res Ptn analyst A. Kessler now forecasts that the e-commerce giant will post earnings per share of $1.10 for the quarter, up from their prior forecast of $1.02. The consensus estimate for Amazon.com’s current full-year earnings is $4.08 per share. Seaport Res Ptn also issued estimates for Amazon.com’s Q3 2024 earnings at $1.27 EPS, Q4 2024 earnings at $1.49 EPS, FY2024 earnings at $4.87 EPS and FY2025 earnings at $6.13 EPS.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $142.65 billion. During the same quarter last year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis.

A number of other research analysts have also weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 price objective on shares of Amazon.com in a research report on Wednesday. Argus raised their price objective on Amazon.com from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada lifted their target price on Amazon.com from $180.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Susquehanna lifted their target price on Amazon.com from $185.00 to $220.00 and gave the stock a “positive” rating in a report on Friday, February 2nd. Finally, The Goldman Sachs Group lifted their target price on Amazon.com from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $211.07.

Amazon.com Stock Up 3.2 %

AMZN stock opened at $184.72 on Thursday. Amazon.com has a twelve month low of $103.28 and a twelve month high of $189.77. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.92 trillion, a PE ratio of 51.74, a price-to-earnings-growth ratio of 1.53 and a beta of 1.15. The business has a 50 day moving average of $178.79 and a 200 day moving average of $159.95.

Institutional Investors Weigh In On Amazon.com

Several large investors have recently made changes to their positions in AMZN. Cherrydale Wealth Management LLC increased its stake in Amazon.com by 14.7% during the fourth quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock worth $799,000 after acquiring an additional 675 shares during the last quarter. Tompkins Financial Corp increased its stake in Amazon.com by 3.3% during the fourth quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock worth $10,875,000 after acquiring an additional 2,273 shares during the last quarter. Nicholas Company Inc. grew its stake in shares of Amazon.com by 3.9% during the third quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock valued at $89,628,000 after buying an additional 26,465 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Amazon.com by 5.4% during the fourth quarter. Nordea Investment Management AB now owns 5,397,520 shares of the e-commerce giant’s stock valued at $825,065,000 after buying an additional 277,631 shares during the last quarter. Finally, Foresight Capital Management Advisors Inc. bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $1,891,000. 72.20% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Douglas J. Herrington sold 20,200 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total value of $3,433,798.00. Following the transaction, the chief executive officer now directly owns 514,131 shares in the company, valued at $87,397,128.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Douglas J. Herrington sold 20,200 shares of Amazon.com stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total value of $3,433,798.00. Following the sale, the chief executive officer now directly owns 514,131 shares of the company’s stock, valued at $87,397,128.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 5,998,849 shares of Amazon.com stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the completion of the sale, the insider now directly owns 982,252,968 shares in the company, valued at $167,140,165,034.88. The disclosure for this sale can be found here. Insiders have sold 32,213,510 shares of company stock worth $5,505,811,286 over the last ninety days. Corporate insiders own 10.80% 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.