William Blair Analysts Boost Earnings Estimates for Amazon.com, Inc. (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) – Investment analysts at William Blair upped their Q2 2024 earnings per share estimates for shares of Amazon.com in a research report issued on Wednesday, May 1st. William Blair analyst D. Carden now expects that the e-commerce giant will post earnings per share of $1.03 for the quarter, up from their previous estimate of $0.87. The consensus estimate for Amazon.com’s current full-year earnings is $4.55 per share. William Blair also issued estimates for Amazon.com’s Q3 2024 earnings at $1.15 EPS, Q4 2024 earnings at $1.39 EPS, FY2024 earnings at $4.70 EPS and FY2025 earnings at $5.86 EPS.

Other research analysts also recently issued research reports about the company. Mizuho boosted their target price on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen boosted their price target on Amazon.com from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Citigroup raised their price objective on shares of Amazon.com from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird boosted their target price on shares of Amazon.com from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of Amazon.com from $217.00 to $234.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Buy” and an average target price of $211.07.

Amazon.com Stock Performance

Shares of AMZN stock opened at $186.21 on Friday. The stock’s fifty day simple moving average is $179.02 and its 200-day simple moving average is $160.32. The company has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 52.16, a P/E/G ratio of 1.37 and a beta of 1.15. The company has a current ratio of 1.07, a quick ratio of 0.84 and a debt-to-equity ratio of 0.27. Amazon.com has a 1-year low of $103.31 and a 1-year high of $189.77.

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

Hedge Funds Weigh In On Amazon.com

A number of institutional investors and hedge funds have recently bought and sold shares of AMZN. Cherrydale Wealth Management LLC lifted its position in Amazon.com by 14.7% in the 4th quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock valued at $799,000 after acquiring an additional 675 shares in the last quarter. Tompkins Financial Corp increased its stake in Amazon.com by 3.3% in the 4th quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock valued at $10,875,000 after buying an additional 2,273 shares during the last quarter. Nicholas Company Inc. boosted its stake in shares of Amazon.com by 3.9% during the 3rd quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock worth $89,628,000 after buying an additional 26,465 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Amazon.com by 5.4% in the 4th quarter. Nordea Investment Management AB now owns 5,397,520 shares of the e-commerce giant’s stock valued at $825,065,000 after acquiring an additional 277,631 shares in the last quarter. Finally, Foresight Capital Management Advisors Inc. bought a new position in shares of Amazon.com during the 4th quarter worth approximately $1,891,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insiders Place Their Bets

In related news, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total value of $523,807.00. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $20,239,226.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP David Zapolsky sold 10,920 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $169.21, for a total value of $1,847,773.20. Following the sale, the senior vice president now owns 59,100 shares in the company, valued at approximately $10,000,311. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total transaction of $523,807.00. Following the completion of the sale, the vice president now directly owns 119,780 shares in the company, valued at approximately $20,239,226.60. The disclosure for this sale can be found here. Insiders have sold 32,217,010 shares of company stock worth $5,506,442,301 over the last 90 days. Corporate 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.