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

Amazon.com, Inc. (NASDAQ:AMZN - Free Report) - Analysts at Wedbush reduced their FY2024 EPS estimates for shares of Amazon.com in a research report issued to clients and investors 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 previous forecast of $6.80. Wedbush currently has a "Outperform" rating and a $280.00 price target on the stock. The consensus estimate for Amazon.com's current full-year earnings is $5.39 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.

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

Several other equities research analysts have also commented on AMZN. Redburn Atlantic boosted their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Morgan Stanley upped their target price on shares of Amazon.com from $230.00 to $280.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Telsey Advisory Group upped their target price on shares of Amazon.com from $215.00 to $235.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Needham & Company LLC restated a "buy" rating and issued a $250.00 target price on shares of Amazon.com in a report on Tuesday, January 21st. Finally, Truist Financial upped their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a "buy" rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $249.46.

Amazon.com Price Performance

Shares of Amazon.com stock traded down $2.43 on Wednesday, hitting $234.64. The company's stock had a trading volume of 31,950,988 shares, compared to its average volume of 32,440,846. Amazon.com has a 52-week low of $151.61 and a 52-week high of $241.77. 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 fifty day moving average price of $222.30 and a 200-day moving average price of $198.30. The company has a market capitalization of $2.47 trillion, a P/E ratio of 50.24, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14.

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 stake in Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after buying an additional 100 shares during the last quarter. Hoese & Co LLP acquired a new position in shares of Amazon.com during the third quarter valued at $37,000. Quattro Financial Advisors LLC increased its holdings in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after purchasing an additional 45 shares during the period. Bull Oak Capital LLC acquired a new position in shares of Amazon.com during the third quarter valued at $45,000. Finally, Iron Horse Wealth Management LLC increased its holdings in shares of Amazon.com by 64.4% during the fourth quarter. Iron Horse Wealth Management LLC now owns 286 shares of the e-commerce giant's stock valued at $63,000 after purchasing an additional 112 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 5,502 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the transaction, the chief executive officer now directly owns 518,911 shares in the company, valued at $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 5,004 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the transaction, the director now owns 99,396 shares in the company, valued at $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 over the last ninety days. 10.80% of the stock is owned by insiders.

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.