Amazon's Q1 2024 Earnings Forecast Raised by Telsey Advisory Group

Telsey Advisory Group has revised their earlier projections for Amazon.com, Inc.’s performance in the first quarter of 2024, signaling confidence in the e-commerce powerhouse. The company, widely recognized by its NASDAQ symbol AMZN, received an updated earnings per share (EPS) estimate from J. Feldman, an analyst at Telsey Advisory Group, on January 24th. Previously set at $0.53, the new forecast predicts a rise to $0.71 EPS for the quarter. This uptick reflects an optimistic outlook on Amazon's profitability as it tackles the new financial year.

Positive Ratings and Future Expectations

Accompanying the earnings revision, Telsey Advisory Group maintains an 'Outperform' rating for Amazon, with a price target of $185.00, indicating a potential upside from current trading levels. Alongside expectations for the first quarter, Feldman has also issued estimates for Amazon’s second quarter of 2024, setting the EPS at $0.79.

Recent Performance

Looking at Amazon’s recently disclosed financials, the company outstripped consensus estimates in Q3 of the previous year, posting an EPS of $0.85 against the forecasted $0.58. The revenue front was equally positive, with $143.08 billion surpassing the expected $141.53 billion. These figures further underline Amazon's solid market position and its ability to perform above analyst expectations. The firm has consistently demonstrated robust growth margins, such as its reported net margin of 3.62% and a notable return on equity of 12.75%.

Insider and Institutional Moves

In related developments, insiders at Amazon have been active in the marketplace. The CEO, Adam Selipsky, executed a sale of 500 company shares at an average price of $139, with the transaction totaling $69,500. Post-sale, Selipsky's stake in the company is valued at above $14 million. Additionally, institutional investors and hedge funds have dynamically adjusted their holdings in Amazon, reflecting continued interest and investment in one of the world's largest retailers.

About Amazon.com

Amazon.com, Inc. operates as a global leader in e-commerce and cloud computing via its Amazon Web Services segment. It has revolutionized retail with its online and physical stores, providing a massive assortment of products and subscription services. The company’s business model encompasses sales of owned inventory and facilitating third-party vendors, further diversifying its revenue streams.

Amazon, Earnings, Forecast