Amazon.com (NASDAQ:AMZN) Posts Quarterly Earnings Results

Amazon.com, Inc. (NASDAQ:AMZN) posted its quarterly earnings results on Tuesday. The e-commerce giant reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15, Yahoo Finance reports. The firm had revenue of $143.31 billion for the quarter, compared to analyst estimates of $142.65 billion. Amazon.com had a return on equity of 20.73% and a net margin of 6.38%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. Amazon.com updated its Q2 2024 guidance to EPS.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $179.00 on Thursday. The company has a market cap of $1.86 trillion, a PE ratio of 50.14, a price-to-earnings-growth ratio of 1.53 and a beta of 1.15. Amazon.com, Inc. has a 52 week low of $101.15 and a 52 week high of $189.77. The business has a 50 day moving average price of $178.59 and a 200-day moving average price of $159.78. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29.

Insider Transactions at Amazon.com

In other news, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $180.00, for a total value of $90,000.00. Following the completion of the sale, the chief executive officer now directly owns 132,600 shares of the company’s stock, valued at $23,868,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Douglas J. Herrington sold 20,200 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the completion of the sale, the chief executive officer now directly owns 514,131 shares of the company’s stock, valued at $87,397,128.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $180.00, for a total value of $90,000.00. Following the sale, the chief executive officer now directly owns 132,600 shares of the company’s stock, valued at $23,868,000. The disclosure for this sale can be found here. Insiders sold a total of 32,213,510 shares of company stock valued at $5,505,811,286 over the last ninety days. 10.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $225.00 price target on shares of Amazon.com in a research report on Wednesday. Bank of America boosted their price target on Amazon.com from $185.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Canaccord Genuity Group boosted their price target on Amazon.com from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Sanford C. Bernstein boosted their price target on Amazon.com from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Moffett Nathanson reiterated a “buy” rating and set a $228.00 target price on shares of Amazon.com in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com currently has an average rating of “Buy” and a consensus target price of $210.18.

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.