Wedbush Has Bullish Estimate for Amazon.com FY2024 Earnings

Amazon.com, Inc. (NASDAQ:AMZN) – Analysts at Wedbush lifted their FY2024 EPS estimates for shares of Amazon.com in a report issued on Monday, January 6th. Wedbush analyst S. Devitt now anticipates that the e-commerce giant will post earnings of $6.80 per share for the year, up from their previous forecast of $5.35. Wedbush currently has a “Outperform” rating and a $260.00 price target 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.

A number of other brokerages also recently commented on AMZN. Mizuho lifted 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 Tuesday, December 10th. Telsey Advisory Group upped their price objective on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Cowen raised their target price on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Tigress Financial lifted their target price on Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Pivotal Research initiated coverage on Amazon.com in a report on Friday, October 11th. They set a “buy” rating and a $260.00 price target for the company. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com presently has an average 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. Amazon.com has a twelve month low of $146.15 and a twelve month high of $233.00. The firm’s 50-day moving average price is $214.48 and its 200 day moving average price is $194.73. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.34 trillion, a PE ratio of 47.56, a P/E/G ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the company posted $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This trade represents a 0.33 % 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, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the transaction, the director now owns 99,396 shares in the company, valued at $19,864,290.60. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 in the last quarter. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Several hedge funds have recently modified their holdings of AMZN. Icon Wealth Advisors LLC grew its stake in shares of 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 worth $28,000 after purchasing an additional 25,581 shares during the period. PayPay Securities Corp boosted 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 worth $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP acquired a new position in Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com in the third quarter valued at about $45,000. Finally, Values First Advisors Inc. acquired a new stake in shares of Amazon.com during the 3rd quarter valued at approximately $56,000. 72.20% of the stock is owned by institutional investors and hedge funds.

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.