FY2024 Earnings Forecast for Amazon.com Issued By Wedbush

Amazon.com, Inc. (NASDAQ:AMZN) – Analysts at Wedbush upped their FY2024 earnings estimates for shares of Amazon.com in a research note issued to investors on Thursday, October 31st. Wedbush analyst S. Devitt now forecasts that the e-commerce giant will earn $5.35 per share for the year, up from their prior estimate of $4.95. Wedbush has a “Outperform” rating and a $250.00 price target on the stock. The consensus estimate for Amazon.com’s current full-year earnings is $4.84 per share. Wedbush also issued estimates for Amazon.com’s Q4 2024 earnings at $1.56 EPS, Q1 2025 earnings at $1.49 EPS, Q2 2025 earnings at $1.52 EPS, Q3 2025 earnings at $1.67 EPS, Q4 2025 earnings at $1.92 EPS, FY2025 earnings at $6.60 EPS and FY2026 earnings at $7.74 EPS.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 23.46%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group upped their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler increased their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday. Pivotal Research started coverage on shares of Amazon.com in a research note on Friday, October 11th. They set a “buy” rating and a $260.00 price objective for the company. Morgan Stanley increased their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Loop Capital increased their price objective on shares of Amazon.com from $750.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $246.48.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $195.78 on Monday. The firm has a market cap of $2.05 trillion, a PE ratio of 41.92, a PEG ratio of 1.42 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. Amazon.com has a 1-year low of $138.36 and a 1-year high of $201.20. The company has a fifty day moving average price of $185.23 and a 200 day moving average price of $183.89.

Insider Transactions at Amazon.com

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,855 shares of company stock valued at $9,215,048. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMZN. International Assets Investment Management LLC raised its position in Amazon.com by 20,897.2% during the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after purchasing an additional 38,949,065 shares in the last quarter. Vanguard Group Inc. raised its position in Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares in the last quarter. Swedbank AB acquired a new position in Amazon.com during the first quarter valued at approximately $2,239,757,000. Capital World Investors grew its stake in shares of Amazon.com by 64.6% during the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after buying an additional 11,524,463 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.