Wedbush Comments on Amazon.com, Inc.’s Q2 2024 Earnings (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) – Research analysts at Wedbush lifted their Q2 2024 EPS estimates for shares of Amazon.com in a research note issued on Tuesday, April 23rd. Wedbush analyst S. Devitt now expects that the e-commerce giant will post earnings of $1.01 per share for the quarter, up from their prior estimate of $0.94. Wedbush currently has a “Outperform” rating and a $225.00 price target on the stock. The consensus estimate for Amazon.com’s current full-year earnings is $4.11 per share. Wedbush also issued estimates for Amazon.com’s Q3 2024 earnings at $1.19 EPS, Q4 2024 earnings at $1.23 EPS, FY2024 earnings at $4.35 EPS and FY2025 earnings at $5.85 EPS.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.19. The company had revenue of $169.96 billion during the quarter, compared to analysts’ expectations of $165.96 billion. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. Amazon.com’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $0.21 earnings per share.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group raised their price target on Amazon.com from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Evercore ISI lifted their price target on shares of Amazon.com from $195.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Benchmark restated a “buy” rating and set a $200.00 price objective on shares of Amazon.com in a report on Wednesday. Oppenheimer lifted their target price on shares of Amazon.com from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Truist Financial upped their price target on shares of Amazon.com from $195.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. One analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amazon.com has a consensus rating of “Buy” and an average price target of $205.13.

Amazon.com Stock Up 3.4 %

NASDAQ AMZN opened at $179.62 on Friday. Amazon.com has a one year low of $101.15 and a one year high of $189.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.05. The stock has a 50 day moving average price of $177.99 and a 200-day moving average price of $158.79. The company has a market capitalization of $1.87 trillion, a P/E ratio of 61.94, a P/E/G ratio of 1.50 and a beta of 1.16.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds have recently modified their holdings of the business. Cooksen Wealth LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $30,000. PayPay Securities Corp raised its holdings in shares of Amazon.com by 54.3% during the 3rd quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock worth $34,000 after acquiring an additional 94 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Amazon.com by 45.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after acquiring an additional 86 shares during the last quarter. Strid Group LLC purchased a new stake in shares of Amazon.com in the fourth quarter valued at about $43,000. Finally, Clarity Asset Management Inc. acquired a new stake in Amazon.com during the fourth quarter worth about $46,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Amazon.com

In other news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total transaction of $77,860.00. Following the completion of the transaction, the chief executive officer now directly owns 116,560 shares of the company’s stock, valued at approximately $18,150,723.20. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Jeffrey P. Bezos sold 2,009,208 shares of Amazon.com stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $166.79, for a total value of $335,115,802.32. Following the sale, the insider now directly owns 938,251,817 shares in the company, valued at approximately $156,491,020,557.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the sale, the chief executive officer now owns 116,560 shares of the company’s stock, valued at $18,150,723.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,214,010 shares of company stock valued at $5,505,889,146. Company insiders own 10.30% 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.