What is Wedbush’s Forecast for Amazon.com FY2024 Earnings?

Amazon.com, Inc. (NASDAQ:AMZN) – Research analysts at Wedbush boosted their FY2024 earnings per share estimates for Amazon.com in a research report issued on Monday, January 6th. Wedbush analyst S. Devitt now anticipates that the e-commerce giant will earn $6.80 per share for the year, up from their prior estimate of $5.35. Wedbush currently has a “Outperform” rating and a $260.00 target price on the stock. The consensus estimate for Amazon.com’s current full-year earnings is $5.29 per share. Wedbush also issued estimates for Amazon.com’s Q4 2024 earnings at $1.94 EPS, Q1 2025 earnings at $1.83 EPS, Q2 2025 earnings at $1.97 EPS, Q3 2025 earnings at $2.05 EPS, Q4 2025 earnings at $2.32 EPS, FY2025 earnings at $8.17 EPS and FY2026 earnings at $9.50 EPS.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS.

Several other equities research analysts have also commented on AMZN. Sanford C. Bernstein lifted their price target on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. UBS Group lifted their target price on Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Susquehanna upped their target price on Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research report on Friday, November 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $236.00 price target on shares of Amazon.com in a research report on Tuesday, December 3rd. Finally, Evercore ISI increased their price objective on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $243.67.

Amazon.com Stock Up 0.0 %

AMZN stock opened at $222.13 on Wednesday. The stock has a market cap of $2.34 trillion, a P/E ratio of 47.57, a PEG ratio of 1.54 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com has a twelve month low of $148.21 and a twelve month high of $233.00. The company’s 50 day moving average is $215.07 and its two-hundred day moving average is $194.92.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. PayPay Securities Corp boosted its stake in 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 buying an additional 64 shares during the last quarter. Hoese & Co LLP purchased a new position in shares of Amazon.com during the 3rd quarter worth about $37,000. Bull Oak Capital LLC acquired a new stake in shares of Amazon.com in the third quarter worth approximately $45,000. Christopher J. Hasenberg Inc grew its holdings in Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. Finally, Values First Advisors Inc. acquired a new position in Amazon.com during the third quarter worth approximately $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares in the company, valued at approximately $19,864,290.60. This represents a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $210.00, for a total transaction of $735,000.00. Following the sale, the chief executive officer now owns 524,567 shares of the company’s stock, valued at approximately $110,159,070. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by insiders.

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.