FY2024 Earnings Estimate for Amazon.com Issued By Wedbush

Amazon.com, Inc. (NASDAQ:AMZN) – Stock analysts at Wedbush lifted their FY2024 earnings per share estimates for shares of Amazon.com in a research note issued on Monday, January 6th. Wedbush analyst S. Devitt now forecasts that the e-commerce giant will post earnings of $6.80 per share for the year, up from their previous estimate of $5.35. Wedbush has a “Outperform” rating and a $260.00 price objective 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 issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS.

A number of other brokerages have also recently issued reports on AMZN. Wolfe Research boosted their price objective on Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Stifel Nicolaus lifted their price target on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a report on Friday, November 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $285.00 target price on shares of Amazon.com in a research note on Monday, December 16th. Finally, Evercore ISI lifted their price target on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.67.

Amazon.com Trading Down 2.4 %

Shares of Amazon.com stock opened at $222.11 on Wednesday. The firm has a market cap of $2.34 trillion, a PE ratio of 47.56, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com has a 1 year low of $146.15 and a 1 year high of $233.00. The stock has a fifty day moving average price of $214.48 and a 200-day moving average price of $194.73.

Insider Buying and Selling

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, the insider now directly owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock worth $1,253,456,822 in the last three months. 10.80% of the stock is owned by insiders.

Institutional Trading of Amazon.com

Several large investors have recently bought and sold shares of the stock. Foundations Investment Advisors LLC lifted its holdings in shares of Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares during the period. Umpqua Bank lifted its stake in Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after acquiring an additional 137 shares during the period. Washington Trust Advisors Inc. boosted its holdings in shares of Amazon.com by 0.4% in the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after acquiring an additional 982 shares during the last quarter. BayBridge Capital Group LLC increased its stake in shares of Amazon.com by 51.8% in the third quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock worth $2,677,000 after acquiring an additional 4,905 shares during the period. Finally, Zhang Financial LLC raised its holdings in shares of Amazon.com by 12.9% during the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after purchasing an additional 5,828 shares during the last quarter. Hedge funds and other institutional investors own 72.20% 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.