Zacks Research Analysts Lift Earnings Estimates for Amazon.com, Inc. (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) – Investment analysts at Zacks Research raised their Q2 2024 earnings per share (EPS) estimates for shares of Amazon.com in a research report issued on Tuesday, May 21st. Zacks Research analyst R. Department now anticipates that the e-commerce giant will earn $0.93 per share for the quarter, up from their previous forecast of $0.83. The consensus estimate for Amazon.com’s current full-year earnings is $4.67 per share. Zacks Research also issued estimates for Amazon.com’s Q3 2024 earnings at $1.09 EPS, Q4 2024 earnings at $1.25 EPS, Q2 2025 earnings at $1.13 EPS, Q3 2025 earnings at $1.34 EPS, Q4 2025 earnings at $1.93 EPS, FY2025 earnings at $5.41 EPS, Q1 2026 earnings at $1.38 EPS and FY2026 earnings at $7.17 EPS.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company raised their price objective on Amazon.com from $217.00 to $234.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Telsey Advisory Group raised their price target on shares of Amazon.com from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. BMO Capital Markets lifted their price objective on shares of Amazon.com from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Piper Sandler raised their target price on shares of Amazon.com from $205.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 price target on shares of Amazon.com in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $211.62.

Amazon.com Price Performance

NASDAQ AMZN opened at $181.05 on Wednesday. The company has a market cap of $1.88 trillion, a price-to-earnings ratio of 50.71, a PEG ratio of 1.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. The stock’s fifty day moving average price is $181.91 and its 200 day moving average price is $165.77. Amazon.com has a 1 year low of $114.31 and a 1 year high of $191.70.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The company had revenue of $143.31 billion for the quarter, compared to the consensus estimate of $142.65 billion. During the same quarter in the previous year, the firm earned $0.31 EPS. Amazon.com’s revenue was up 12.5% compared to the same quarter last year.

Institutional Investors Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Amazon.com in the 4th quarter valued at $17,700,551,000. Vanguard Group Inc. lifted its holdings in shares of Amazon.com by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock valued at $96,350,832,000 after purchasing an additional 32,038,029 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Amazon.com by 16,029.3% in the 4th quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock valued at $36,260,810,000 after purchasing an additional 23,717,254 shares during the period. FMR LLC grew its stake in Amazon.com by 7.7% during the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock worth $38,403,135,000 after buying an additional 21,649,871 shares during the last quarter. Finally, Swedbank AB acquired a new position in Amazon.com during the first quarter worth approximately $2,239,757,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, VP Shelley Reynolds sold 2,700 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $181.39, for a total transaction of $489,753.00. Following the sale, the vice president now owns 119,780 shares in the company, valued at approximately $21,726,894.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total value of $3,771,048.96. Following the transaction, the chief executive officer now owns 2,025,358 shares of the company’s stock, valued at $367,480,955.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Shelley Reynolds sold 2,700 shares of Amazon.com stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $181.39, for a total value of $489,753.00. Following the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $21,726,894.20. The disclosure for this sale can be found here. Insiders have sold a total of 117,894 shares of company stock worth $21,363,909 in the last ninety days. 10.80% of the stock is 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.