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

Amazon.com, Inc. (NASDAQ:AMZN) – Equities research analysts at Telsey Advisory Group upped their Q2 2024 earnings estimates for shares of Amazon.com in a research report issued to clients and investors on Wednesday, May 1st. Telsey Advisory Group analyst J. Feldman now anticipates that the e-commerce giant will post earnings of $1.09 per share for the quarter, up from their prior forecast of $0.86. Telsey Advisory Group has a “Outperform” rating and a $215.00 price target on the stock. The consensus estimate for Amazon.com’s current full-year earnings is $4.12 per share. Telsey Advisory Group also issued estimates for Amazon.com’s FY2024 earnings at $4.71 EPS.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. The company had revenue of $143.31 billion for the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS.

Several other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Amazon.com from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Argus lifted their price objective on shares of Amazon.com from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday. Wolfe Research lifted their target price on shares of Amazon.com from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Stifel Nicolaus boosted their price objective on Amazon.com from $224.00 to $228.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Roth Mkm reiterated a “buy” rating and set a $210.00 target price (up previously from $205.00) on shares of Amazon.com in a research report on Wednesday. One research 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 data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $211.07.

Amazon.com Stock Up 0.8 %

NASDAQ:AMZN opened at $186.21 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.84 and a current ratio of 1.07. The stock has a market capitalization of $1.93 trillion, a P/E ratio of 52.16, a P/E/G ratio of 1.55 and a beta of 1.15. The company’s 50-day simple moving average is $178.79 and its 200-day simple moving average is $159.95. Amazon.com has a fifty-two week low of $103.31 and a fifty-two week high of $189.77.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $184.00, for a total transaction of $92,000.00. Following the completion of the sale, the chief executive officer now directly owns 131,600 shares in the company, valued at $24,214,400. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $180.73, for a total transaction of $632,555.00. Following the transaction, the chief executive officer now owns 512,858 shares of the company’s stock, valued at approximately $92,688,826.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $184.00, for a total value of $92,000.00. Following the completion of the transaction, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at $24,214,400. The disclosure for this sale can be found here. Insiders have sold 32,217,010 shares of company stock valued at $5,506,442,301 over the last 90 days. 10.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Amazon.com by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 771,086,427 shares of the e-commerce giant’s stock worth $117,158,872,000 after buying an additional 13,134,632 shares during the period. FMR LLC increased its position in shares of Amazon.com by 7.7% in the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock valued at $38,403,135,000 after purchasing an additional 21,649,871 shares during the last quarter. Norges Bank acquired a new stake in shares of Amazon.com in the 4th quarter valued at $17,700,551,000. Northern Trust Corp lifted its position in shares of Amazon.com by 3.7% during the 3rd quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock worth $11,736,905,000 after purchasing an additional 3,260,411 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Amazon.com by 0.5% during the first quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after purchasing an additional 295,132 shares in the last quarter. Hedge funds and other institutional investors own 72.20% 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.