Brokers Issue Forecasts for Amazon.com, Inc.’s Q3 2024 Earnings (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) – Analysts at Telsey Advisory Group increased their Q3 2024 earnings per share estimates for Amazon.com in a research note issued on Wednesday, May 1st. Telsey Advisory Group analyst J. Feldman now forecasts that the e-commerce giant will post earnings of $1.15 per share for the quarter, up from their prior estimate of $0.97. Telsey Advisory Group has a “Outperform” rating and a $215.00 price objective on the stock. The consensus estimate for Amazon.com’s current full-year earnings is $4.08 per share. Telsey Advisory Group also issued estimates for Amazon.com’s Q4 2024 earnings at $1.34 EPS and FY2025 earnings at $5.73 EPS.

Several other research firms have also recently commented on AMZN. Mizuho boosted their price target on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday. Sanford C. Bernstein boosted their price target on Amazon.com from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI upped their price objective on Amazon.com from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday. DA Davidson restated a “buy” rating and set a $235.00 price objective on shares of Amazon.com in a research note on Thursday, April 18th. Finally, Benchmark restated a “buy” rating and set a $200.00 price objective on shares of Amazon.com in a research note on Wednesday. One research 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 a consensus rating of “Buy” and an average target price of $210.18.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $179.00 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com has a 1-year low of $101.15 and a 1-year high of $189.77. The business has a 50-day moving average of $178.59 and a 200-day moving average of $159.78. The company has a market capitalization of $1.86 trillion, a price-to-earnings ratio of 50.14, a PEG ratio of 1.53 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a return on equity of 20.73% and a net margin of 6.38%. The company had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The company’s revenue was up 12.5% compared to the same quarter last year.

Hedge Funds Weigh In On Amazon.com

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cooksen Wealth LLC bought a new position in shares of Amazon.com during the 4th quarter worth approximately $30,000. PayPay Securities Corp increased its stake in shares of Amazon.com by 54.3% in the 3rd quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock valued at $34,000 after buying an additional 94 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Amazon.com by 45.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 86 shares during the period. Strid Group LLC acquired a new stake in shares of Amazon.com in the 4th quarter valued at $43,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Amazon.com in the 4th quarter valued at $46,000. Institutional investors own 72.20% of the company’s stock.

Insider Activity

In other news, CEO Douglas J. Herrington sold 20,200 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the transaction, the chief executive officer now owns 514,131 shares of the company’s stock, valued at approximately $87,397,128.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total transaction of $90,690.00. Following the completion of the transaction, the chief executive officer now owns 130,600 shares in the company, valued at approximately $23,688,228. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 20,200 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total value of $3,433,798.00. Following the transaction, the chief executive officer now owns 514,131 shares of the company’s stock, valued at approximately $87,397,128.69. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,213,510 shares of company stock valued at $5,505,811,286. Insiders own 10.80% of the company’s stock.

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.