What is Wedbush's Forecast for Amazon.com FY2024 Earnings?

Amazon.com, Inc. (NASDAQ:AMZN - Free Report) - Equities researchers at Wedbush reduced their FY2024 earnings per share estimates for Amazon.com in a research note issued on Monday, January 27th. Wedbush analyst S. Devitt now forecasts that the e-commerce giant will post earnings of $5.40 per share for the year, down from their prior forecast of $6.80. Wedbush currently has a "Outperform" rating and a $280.00 target price on the stock. The consensus estimate for Amazon.com's current full-year earnings is $5.30 per share. Wedbush also issued estimates for Amazon.com's Q4 2024 earnings at $1.62 EPS, Q1 2025 earnings at $1.49 EPS, Q2 2025 earnings at $1.52 EPS, Q3 2025 earnings at $1.68 EPS, Q4 2025 earnings at $2.01 EPS, FY2025 earnings at $6.71 EPS and FY2026 earnings at $7.96 EPS.

Other equities analysts have also recently issued reports about the stock. Truist Financial lifted their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Stifel Nicolaus upped their price target on Amazon.com from $224.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Evercore ISI lifted their target price on Amazon.com from $240.00 to $260.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Roth Mkm upped their target price on Amazon.com from $220.00 to $250.00 and gave the company a "buy" rating in a report on Monday, December 9th. Finally, Loop Capital raised their price target on shares of Amazon.com from $225.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $250.33.

Amazon.com Trading Up 1.3 %

Shares of AMZN stock traded up $3.04 during trading hours on Wednesday, reaching $237.68. 36,098,305 shares of the stock traded hands, compared to its average volume of 29,222,300. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.50 trillion, a PE ratio of 50.90, a PEG ratio of 1.35 and a beta of 1.14. Amazon.com has a 1-year low of $151.61 and a 1-year high of $241.77. The business has a fifty day moving average price of $223.83 and a 200 day moving average price of $198.91.

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

Institutional Investors Weigh In On Amazon.com

Hedge funds have recently added to or reduced their stakes in the stock. Accordant Advisory Group Inc lifted its position in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after purchasing an additional 100 shares during the period. Icon Wealth Advisors LLC lifted its holdings in Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock valued at $28,000 after buying an additional 25,581 shares during the period. Hoese & Co LLP bought a new position in Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC bought a new position in Amazon.com in the third quarter valued at approximately $45,000. Finally, Quattro Financial Advisors LLC raised its position in shares of Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Insider Transactions at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares of the company's stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the sale, the director now owns 88,203 shares of the company's stock, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,027,340 shares of company stock valued at $1,252,456,773. Company insiders own 10.80% 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.