Amazon.com (NASDAQ:AMZN) Issues Earnings Results

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

Amazon.com Stock Performance

Shares of NASDAQ:AMZN traded up $2.93 during midday trading on Wednesday, hitting $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 stock has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 61.16, a PEG ratio of 1.57 and a beta of 1.16. The stock’s 50 day simple moving average is $178.38 and its 200 day simple moving average is $159.64. Amazon.com, Inc. has a fifty-two week low of $101.15 and a fifty-two week high of $189.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.05.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of research reports. Telsey Advisory Group increased their price target on Amazon.com from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday. Evercore ISI raised their price objective on Amazon.com from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday. Morgan Stanley raised their price objective on Amazon.com from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wells Fargo & Company raised their target price on Amazon.com from $211.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Citigroup raised their target price on Amazon.com from $235.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $209.69.

Insider Activity

In related news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $155.72, for a total transaction of $77,860.00. Following the sale, the chief executive officer now directly owns 116,560 shares of the company’s stock, valued at $18,150,723.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $155.72, for a total transaction of $77,860.00. Following the sale, the chief executive officer now directly owns 116,560 shares of the company’s stock, valued at $18,150,723.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 50,000 shares of Amazon.com stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $168.65, for a total value of $8,432,500.00. Following the sale, the chief executive officer now directly owns 2,014,055 shares in the company, valued at $339,670,375.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,214,010 shares of company stock valued at $5,505,889,146. 10.30% of the stock is owned by 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.