Wedbush Has Bullish Estimate for Amazon.com FY2024 Earnings

Amazon.com, Inc. (NASDAQ:AMZN) – Equities researchers at Wedbush boosted their FY2024 earnings per share estimates for Amazon.com in a research report issued on Thursday, October 17th. Wedbush analyst S. Devitt now anticipates that the e-commerce giant will earn $4.95 per share for the year, up from their previous forecast of $4.90. Wedbush has a “Outperform” rating and a $225.00 price objective on the stock. The consensus estimate for Amazon.com’s current full-year earnings is $4.85 per share. Wedbush also issued estimates for Amazon.com’s Q4 2024 earnings at $1.37 EPS and FY2026 earnings at $7.20 EPS.

AMZN has been the topic of a number of other reports. BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 price objective on shares of Amazon.com in a research report on Thursday, September 19th. TD Securities raised their price target on Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. JPMorgan Chase & Co. lowered their price objective on Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. TD Cowen upped their target price on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Bank of America reduced their target price on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $236.78.

Amazon.com Stock Performance

Amazon.com stock opened at $188.99 on Monday. The stock has a 50-day simple moving average of $181.98 and a 200 day simple moving average of $183.43. The stock has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 52.94, a P/E/G ratio of 1.38 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Amazon.com has a 12-month low of $118.35 and a 12-month high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. The firm had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%.

Insider Buying and Selling at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total value of $662,375.00. Following the completion of the transaction, the chief executive officer now directly owns 503,753 shares in the company, valued at approximately $95,335,255.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,355 shares of company stock valued at $9,877,423 in the last quarter. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds have recently bought and sold shares of AMZN. Violich Capital Management Inc. grew its position in shares of Amazon.com by 2.7% during the 3rd quarter. Violich Capital Management Inc. now owns 48,420 shares of the e-commerce giant’s stock worth $9,022,000 after purchasing an additional 1,265 shares in the last quarter. Penn Davis Mcfarland Inc. boosted its stake in shares of Amazon.com by 95.3% in the third quarter. Penn Davis Mcfarland Inc. now owns 9,510 shares of the e-commerce giant’s stock valued at $1,772,000 after buying an additional 4,640 shares during the period. Brown Lisle Cummings Inc. grew its position in Amazon.com by 6.7% during the third quarter. Brown Lisle Cummings Inc. now owns 42,695 shares of the e-commerce giant’s stock worth $7,955,000 after buying an additional 2,675 shares in the last quarter. Godsey & Gibb Inc. grew its position in Amazon.com by 11.8% during the third quarter. Godsey & Gibb Inc. now owns 17,562 shares of the e-commerce giant’s stock worth $3,272,000 after buying an additional 1,852 shares in the last quarter. Finally, Baker Boyer National Bank increased its stake in Amazon.com by 11.2% during the 3rd quarter. Baker Boyer National Bank now owns 4,462 shares of the e-commerce giant’s stock worth $831,000 after acquiring an additional 451 shares during the period. 72.20% of the stock is owned by institutional investors.

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.