Wedbush Estimates Amazon.com’s FY2024 Earnings (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) – Analysts at Wedbush reduced their FY2024 earnings estimates for Amazon.com in a research note issued to investors on Monday, January 27th. Wedbush analyst S. Devitt now expects that the e-commerce giant will earn $5.40 per share for the year, down from their prior estimate 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 $5.39 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) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS.

Other equities analysts also recently issued research reports about the stock. Evercore ISI upped their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Cowen raised their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Piper Sandler increased their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group lifted their price target on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, December 16th. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $249.46.

Amazon.com Price Performance

Amazon.com stock opened at $237.07 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The business has a 50 day simple moving average of $221.62 and a 200-day simple moving average of $198.03. Amazon.com has a 12 month low of $151.61 and a 12 month high of $241.77. The stock has a market capitalization of $2.49 trillion, a PE ratio of 50.76, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14.

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction dated 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 directly owns 99,396 shares of the company’s stock, valued at $19,864,290.60. The trade was a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of institutional investors have recently added to or reduced their stakes in AMZN. Rench Wealth Management Inc. lifted its position in Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after acquiring an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares in the last quarter. Blankinship & Foster LLC boosted its stake in shares of Amazon.com by 216.4% in the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after purchasing an additional 4,740 shares during the period. Umpqua Bank increased its stake in Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after buying an additional 137 shares during the period. Finally, Floyd Financial Group LLC acquired a new position in Amazon.com in the 4th quarter worth $4,494,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.