Amazon.com (NASDAQ:AMZN) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Amazon.com, Inc. (NASDAQ:AMZN) announced its quarterly earnings results on Tuesday. The e-commerce giant reported $0.98 EPS for the quarter, beating the consensus estimate of $0.83 by $0.15, Yahoo Finance reports. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The business had revenue of $143.31 billion for the quarter, compared to analyst estimates of $142.65 billion. During the same quarter in the prior year, the company posted $0.31 EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis. Amazon.com updated its Q2 2024 guidance to EPS.

Amazon.com Price Performance

Shares of Amazon.com stock traded up $2.93 during trading on Wednesday, reaching $177.93. The company’s stock had a trading volume of 47,821,071 shares, compared to its average volume of 43,626,063. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. Amazon.com, Inc. has a 12-month low of $101.15 and a 12-month high of $189.77. The company has a market capitalization of $1.85 trillion, a P/E ratio of 61.16, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16. The business has a 50 day moving average price of $178.38 and a 200-day moving average price of $159.64.

Analysts Set New Price Targets

AMZN has been the topic of several recent analyst reports. Monness Crespi & Hardt upped their price target on Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Wedbush restated an “outperform” rating and set a $225.00 target price on shares of Amazon.com in a report on Wednesday. Susquehanna raised their target price on Amazon.com from $185.00 to $220.00 and gave the company a “positive” rating in a report on Friday, February 2nd. Needham & Company LLC restated a “buy” rating and set a $205.00 target price on shares of Amazon.com in a report on Wednesday. Finally, Mizuho raised their target price on Amazon.com from $230.00 to $240.00 and gave the company a “buy” 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $209.69.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total transaction of $523,807.00. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at $20,239,226.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total value of $523,807.00. Following the completion of the transaction, the vice president now directly 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. Also, insider Jeffrey P. Bezos sold 5,998,849 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the completion of the transaction, the insider now directly owns 982,252,968 shares of the company’s stock, valued at $167,140,165,034.88. The disclosure for this sale can be found here. Insiders have sold a total of 32,214,010 shares of company stock worth $5,505,889,146 over the last three months. 10.30% of the stock is currently owned by corporate insiders.

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.