Q2 2024 EPS Estimates for Amazon.com, Inc. Raised by Analyst (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) – Equities researchers at Seaport Res Ptn lifted their Q2 2024 earnings per share (EPS) estimates for Amazon.com in a note issued to investors on Wednesday, May 1st. Seaport Res Ptn analyst A. Kessler now forecasts that the e-commerce giant will earn $1.10 per share for the quarter, up from their prior estimate of $1.02. The consensus estimate for Amazon.com’s current full-year earnings is $4.12 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 released its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group increased their price objective on Amazon.com from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Moffett Nathanson reiterated a “buy” rating and issued a $228.00 price objective on shares of Amazon.com in a research note on Thursday, April 11th. The Goldman Sachs Group increased their target price on Amazon.com from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday. Telsey Advisory Group increased their target price on Amazon.com from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, JMP Securities reissued a “market outperform” rating and issued a $225.00 target price on shares of Amazon.com in a report on Wednesday. One research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Buy” and a consensus target price of $211.07.

Amazon.com Stock Up 0.8 %

NASDAQ:AMZN opened at $186.21 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average is $178.79 and its two-hundred day moving average is $159.95. Amazon.com has a 52 week low of $103.31 and a 52 week high of $189.77. The stock has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 52.16, a price-to-earnings-growth ratio of 1.55 and a beta of 1.15.

Institutional Investors Weigh In On Amazon.com

Hedge funds have recently made changes to their positions in the business. Cooksen Wealth LLC acquired a new position in shares of Amazon.com during the 4th quarter valued at about $30,000. PayPay Securities Corp grew its holdings in Amazon.com by 54.3% in the third quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock valued at $34,000 after purchasing an additional 94 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its position 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 worth $42,000 after purchasing an additional 86 shares during the last quarter. Strid Group LLC acquired a new position in shares of Amazon.com in the 4th quarter valued at $43,000. Finally, Harbor Investment Advisory LLC grew its stake 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 valued at $46,000 after buying an additional 1,988 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 20,200 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the transaction, the chief executive officer now owns 514,131 shares of the company’s stock, valued at $87,397,128.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total transaction of $523,807.00. Following the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at $20,239,226.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 20,200 shares of Amazon.com stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the completion of the sale, the chief executive officer now directly owns 514,131 shares of the company’s stock, valued at $87,397,128.69. 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 quarter. Company insiders own 10.80% 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.