Wedbush Estimates Amazon.com’s FY2024 Earnings (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) – Analysts at Wedbush increased their FY2024 EPS estimates for shares of Amazon.com in a report released on Thursday, October 17th. Wedbush analyst S. Devitt now expects that the e-commerce giant will post earnings of $4.95 per share for the year, up from their prior estimate of $4.90. Wedbush currently 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 $4.85 per share. Wedbush also issued estimates for Amazon.com’s Q4 2024 earnings at $1.37 EPS and FY2026 earnings at $7.20 EPS.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The firm had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion.

Several other brokerages have also recently issued reports on AMZN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Amazon.com in a research note on Friday, August 2nd. Roth Mkm lifted their price target on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Sanford C. Bernstein increased their price objective on Amazon.com from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective on shares of Amazon.com in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. cut their target price on Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Amazon.com Price Performance

NASDAQ:AMZN opened at $188.99 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average price is $181.98 and its 200 day moving average price is $183.43. Amazon.com has a 52-week low of $118.35 and a 52-week high of $201.20. The firm has a market cap of $1.97 trillion, a P/E ratio of 52.94, a PEG ratio of 1.38 and a beta of 1.14.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. PayPay Securities Corp lifted its position in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP bought a new position in Amazon.com in the third quarter worth $37,000. Christopher J. Hasenberg Inc boosted its stake in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares in the last quarter. Steph & Co. bought a new stake in Amazon.com in the 1st quarter valued at $65,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Amazon.com in the 1st quarter valued at $69,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insiders Place Their Bets

In other news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares in the company, valued at approximately $21,989,299.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,355 shares of company stock valued at $9,877,423 in the last quarter. 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.