Amazon.com, Inc. Forecasted to Earn Q3 2024 Earnings of $1.22 Per Share (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) – Investment analysts at Wedbush lifted their Q3 2024 earnings per share (EPS) estimates for Amazon.com in a research note issued on Friday, August 2nd. Wedbush analyst S. Devitt now forecasts that the e-commerce giant will post earnings per share of $1.22 for the quarter, up from their prior forecast of $1.21. Wedbush 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 $4.73 per share. Wedbush also issued estimates for Amazon.com’s FY2025 earnings at $5.93 EPS.

A number of other analysts have also weighed in on the company. Mizuho upped their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Bank of America dropped their price objective on Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Monness Crespi & Hardt boosted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. JMP Securities reissued a “market outperform” rating and set a $225.00 price target on shares of Amazon.com in a research report on Wednesday, July 31st. Finally, Barclays lifted their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has an average rating of “Buy” and a consensus price target of $221.88.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $161.93 on Monday. The firm’s 50 day simple moving average is $186.73 and its 200-day simple moving average is $179.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. Amazon.com has a one year low of $118.35 and a one year high of $201.20. The firm has a market cap of $1.69 trillion, a PE ratio of 45.36, a price-to-earnings-growth ratio of 1.32 and a beta of 1.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blackston Financial Advisory Group LLC purchased a new stake in shares of Amazon.com in the fourth quarter worth about $694,000. Bouchey Financial Group Ltd grew its holdings in Amazon.com by 0.9% during the 4th quarter. Bouchey Financial Group Ltd now owns 116,700 shares of the e-commerce giant’s stock valued at $17,731,000 after purchasing an additional 1,066 shares in the last quarter. Well Done LLC grew its stake in shares of Amazon.com by 0.9% during the fourth quarter. Well Done LLC now owns 14,913 shares of the e-commerce giant’s stock valued at $2,266,000 after acquiring an additional 138 shares in the last quarter. Elk River Wealth Management LLC increased its position in shares of Amazon.com by 0.7% during the fourth quarter. Elk River Wealth Management LLC now owns 82,385 shares of the e-commerce giant’s stock worth $12,518,000 after acquiring an additional 547 shares during the last quarter. Finally, A. D. Beadell Investment Counsel Inc. lifted its stake in shares of Amazon.com by 2.3% in the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 17,065 shares of the e-commerce giant’s stock worth $2,592,000 after acquiring an additional 376 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total value of $3,771,048.96. Following the sale, the chief executive officer now directly owns 2,025,358 shares in the company, valued at approximately $367,480,955.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Amazon.com news, Director Jonathan Rubinstein sold 5,264 shares of Amazon.com stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.00, for a total value of $1,000,160.00. Following the transaction, the director now owns 104,400 shares in the company, valued at approximately $19,836,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the sale, the chief executive officer now directly owns 2,025,358 shares of the company’s stock, valued at $367,480,955.52. The disclosure for this sale can be found here. Insiders have sold 6,111,990 shares of company stock valued at $1,222,095,188 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

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.