Wedbush Forecasts Amazon.com's FY2024 Earnings (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN - Free Report) - Investment analysts at Wedbush lifted their FY2024 earnings estimates for Amazon.com in a research report issued to clients and investors on Thursday, October 17th. Wedbush analyst S. Devitt now expects that the e-commerce giant will post earnings per share of $4.95 for the year, up from their prior estimate of $4.90. Wedbush currently has a "Outperform" rating and a $225.00 price target on the stock. The consensus estimate for Amazon.com's current full-year earnings is $4.85 per share. Wedbush also issued estimates for Amazon.com's Q4 2024 earnings at $1.37 EPS and FY2026 earnings at $7.20 EPS.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion for the quarter, compared to analysts' expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%.

Other equities analysts have also issued research reports about the company. Scotiabank assumed coverage on Amazon.com in a research note on Friday, October 11th. They issued a "sector outperform" rating and a $245.00 price objective for the company. The Goldman Sachs Group dropped their price target on Amazon.com from $250.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group reduced their price objective on shares of Amazon.com from $235.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company cut shares of Amazon.com from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $225.00 to $183.00 in a research note on Monday, October 7th. Finally, Piper Sandler decreased their price target on shares of Amazon.com from $220.00 to $215.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Amazon.com currently has an average rating of "Moderate Buy" and an average price target of $236.78.

Amazon.com Price Performance

Shares of AMZN traded up $0.08 during trading hours on Monday, reaching $189.07. 24,214,749 shares of the stock traded hands, compared to its average volume of 41,247,027. Amazon.com has a 52-week low of $118.35 and a 52-week high of $201.20. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The company has a market cap of $1.97 trillion, a P/E ratio of 52.96, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The company's 50-day moving average price is $182.43 and its two-hundred day moving average price is $183.50.

Insider Activity

In related news, CEO Douglas J. Herrington sold 3,500 shares of the firm's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $189.25, for a total transaction of $662,375.00. Following the sale, the chief executive officer now owns 503,753 shares of the company's stock, valued at $95,335,255.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Shelley Reynolds sold 3,791 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares of the company's stock, valued at approximately $21,989,299.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm's stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total value of $662,375.00. Following the completion of the sale, the chief executive officer now directly owns 503,753 shares of the company's stock, valued at $95,335,255.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,355 shares of company stock worth $9,877,423. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amazon.com

Several institutional investors and hedge funds have recently made changes to their positions in AMZN. Vanguard Group Inc. raised its holdings in shares of Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant's stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Swedbank AB acquired a new position in shares of Amazon.com in the 1st quarter valued at about $2,239,757,000. Capital World Investors boosted its stake in shares of Amazon.com by 64.6% in the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant's stock worth $5,295,899,000 after buying an additional 11,524,463 shares during the last quarter. Capital Research Global Investors grew its holdings in Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant's stock worth $15,689,968,000 after acquiring an additional 6,810,145 shares during the period. Finally, Global Assets Advisory LLC raised its position in Amazon.com by 30,350.2% during the first quarter. Global Assets Advisory LLC now owns 6,531,569 shares of the e-commerce giant's stock valued at $1,178,164,000 after acquiring an additional 6,510,119 shares in the last quarter. 72.20% of the stock is currently 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.