Amazon.com (NASDAQ:AMZN) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of Amazon.com (NASDAQ:AMZN) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $225.00 target price on the e-commerce giant’s stock. Wedbush also issued estimates for Amazon.com’s Q2 2024 earnings at $1.09 EPS, Q3 2024 earnings at $1.21 EPS, Q4 2024 earnings at $1.32 EPS, FY2024 earnings at $4.60 EPS and FY2025 earnings at $5.94 EPS.

Several other equities research analysts have also recently weighed in on the stock. Evercore ISI upped their price objective on shares of Amazon.com from $220.00 to $225.00 and gave the stock an outperform rating in a research report on Wednesday. Sanford C. Bernstein boosted their target price on shares of Amazon.com from $175.00 to $200.00 and gave the company an outperform rating in a report on Friday, February 2nd. Needham & Company LLC reaffirmed a buy rating and set a $205.00 target price on shares of Amazon.com in a research report on Wednesday. Mizuho increased their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company a buy rating in a report on Wednesday. Finally, TD Cowen lifted their target price on Amazon.com from $200.00 to $225.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $211.07.

Amazon.com Price Performance

Shares of AMZN opened at $186.21 on Wednesday. Amazon.com has a 1-year low of $103.31 and a 1-year high of $189.77. The company has a market cap of $1.94 trillion, a price-to-earnings ratio of 52.16, a PEG ratio of 1.37 and a beta of 1.15. The company’s fifty day simple moving average is $179.02 and its 200 day simple moving average is $160.32. The company has a current ratio of 1.07, a quick ratio of 0.84 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. The business had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. Amazon.com’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 EPS. On average, research analysts forecast that Amazon.com will post 4.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 5,998,849 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 982,252,968 shares of the company’s stock, valued at $167,140,165,034.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jeffrey P. Bezos sold 5,998,849 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the transaction, the insider now owns 982,252,968 shares in the company, valued at $167,140,165,034.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total value of $92,000.00. Following the completion of the transaction, the chief executive officer now owns 131,600 shares of the company’s stock, valued at approximately $24,214,400. The disclosure for this sale can be found here. Insiders have sold 32,217,010 shares of company stock valued at $5,506,442,301 in the last ninety days. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cooksen Wealth LLC bought a new position in Amazon.com during the 4th quarter valued at about $30,000. PayPay Securities Corp lifted its position in shares of Amazon.com by 54.3% in the third quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock valued at $34,000 after acquiring an additional 94 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Amazon.com by 45.0% during the fourth 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 last quarter. Strid Group LLC purchased a new position in shares of Amazon.com during the fourth quarter valued at about $43,000. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Amazon.com during the 4th quarter worth approximately $46,000. Institutional investors own 72.20% of the company’s stock.

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.