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

Amazon.com, Inc. (NASDAQ:AMZN) released its quarterly earnings data on Tuesday. The e-commerce giant reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15, Yahoo Finance reports. The business had revenue of $143.31 billion during 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 company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. Amazon.com updated its Q2 2024 guidance to EPS.

Amazon.com Stock Performance

Shares of AMZN stock opened at $179.00 on Thursday. The firm has a 50 day moving average of $178.59 and a two-hundred day moving average of $159.78. The stock has a market capitalization of $1.86 trillion, a PE ratio of 50.14, a P/E/G ratio of 1.53 and a beta of 1.15. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. Amazon.com, Inc. has a 52 week low of $101.15 and a 52 week high of $189.77.

Analysts Set New Price Targets

AMZN has been the subject of a number of analyst reports. Moffett Nathanson reissued a “buy” rating and issued a $228.00 price target on shares of Amazon.com in a report on Thursday, April 11th. Roth Mkm reissued a “buy” rating and set a $210.00 price target (up from $205.00) on shares of Amazon.com in a report on Wednesday. Mizuho lifted their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup increased their target price on shares of Amazon.com from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Truist Financial lifted their price target on Amazon.com from $216.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $210.18.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 5,998,849 shares of Amazon.com stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the completion of the transaction, the insider now directly owns 982,252,968 shares in the company, valued at $167,140,165,034.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jeffrey P. Bezos sold 5,998,849 shares of Amazon.com stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the completion of the sale, the insider now directly owns 982,252,968 shares of the company’s stock, valued at approximately $167,140,165,034.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,009,208 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $166.79, for a total value of $335,115,802.32. Following the completion of the sale, the insider now owns 938,251,817 shares in the company, valued at $156,491,020,557.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,213,510 shares of company stock valued at $5,505,811,286. 10.80% of the stock is currently owned by company 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.