Wedbush Has Strong Estimate for Amazon.com FY2024 Earnings

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

Other research analysts have also issued research reports about the stock. Truist Financial lifted their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $197.00 price target on shares of Amazon.com in a research report on Wednesday, November 20th. Royal Bank of Canada upped their price target on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Evercore ISI upped their target price 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. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $236.00 price objective on shares of Amazon.com in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.67.

Amazon.com Stock Up 0.0 %

NASDAQ:AMZN opened at $222.13 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com has a 12-month low of $148.21 and a 12-month high of $233.00. The firm has a market capitalization of $2.34 trillion, a P/E ratio of 47.57, a P/E/G ratio of 1.54 and a beta of 1.14. The stock’s fifty day simple moving average is $215.78 and its 200-day simple moving average is $195.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Icon Wealth Advisors LLC raised its stake in Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares during the last quarter. PayPay Securities Corp grew its holdings in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Hoese & Co LLP purchased a new stake in Amazon.com in the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com in the third quarter worth approximately $45,000. Finally, Values First Advisors Inc. bought a new stake in Amazon.com during the third quarter valued at about $56,000. 72.20% of the stock is owned by institutional investors.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the sale, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This represents a 4.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by corporate insiders.

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.