Jefferies Financial Group Weighs in on Amazon.com, Inc.’s Q2 2023 Earnings (NASDAQ:AMZN)

Posted by Defense World Staff on Apr 13th, 2023

Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) – Jefferies Financial Group reduced their Q2 2023 earnings estimates for Amazon.com in a research report issued to clients and investors on Tuesday, April 11th. Jefferies Financial Group analyst B. Thill now expects that the e-commerce giant will earn $0.23 per share for the quarter, down from their previous forecast of $0.24. The consensus estimate for Amazon.com’s current full-year earnings is $1.33 per share. Jefferies Financial Group also issued estimates for Amazon.com’s Q3 2023 earnings at $0.29 EPS, Q4 2023 earnings at $0.41 EPS, FY2023 earnings at $1.08 EPS, FY2024 earnings at $2.48 EPS and FY2025 earnings at $3.69 EPS.

Several other research firms have also commented on AMZN. Barclays upped their price target on shares of Amazon.com from $130.00 to $150.00 in a research report on Friday, February 3rd. Telsey Advisory Group dropped their price target on shares of Amazon.com from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 24th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price objective on shares of Amazon.com in a research report on Wednesday, April 5th. DA Davidson increased their price objective on Amazon.com from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Finally, Credit Suisse Group lifted their target price on Amazon.com from $142.00 to $171.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. Three research analysts have rated the stock with a hold rating and forty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.64.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $97.83 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.72. The firm has a market capitalization of $1.00 trillion, a PE ratio of -365.02, a P/E/G ratio of 4.22 and a beta of 1.26. Amazon.com has a 1-year low of $81.43 and a 1-year high of $158.65. The business’s fifty day moving average price is $98.33 and its two-hundred day moving average price is $98.32.

Amazon.com (NASDAQ:AMZN – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The company had revenue of $149.20 billion for the quarter, compared to analyst estimates of $145.72 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year.

Insider Buying and Selling at Amazon.com

In related news, CEO Adam Selipsky sold 5,100 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $111.43, for a total transaction of $568,293.00. Following the completion of the sale, the chief executive officer now directly owns 124,180 shares in the company, valued at $13,837,377.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 23,874 shares of the business’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $99.15, for a total value of $2,367,107.10. Following the transaction, the chief executive officer now owns 1,964,506 shares in the company, valued at $194,780,769.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Selipsky sold 5,100 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $111.43, for a total value of $568,293.00. Following the sale, the chief executive officer now directly owns 124,180 shares of the company’s stock, valued at $13,837,377.40. The disclosure for this sale can be found here. Insiders have sold a total of 78,193 shares of company stock valued at $7,685,143 in the last 90 days. 12.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

Several large investors have recently made changes to their positions in AMZN. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Amazon.com in the 4th quarter valued at $27,000. St. James Investment Advisors LLC lifted its position in shares of Amazon.com by 97.7% in the fourth quarter. St. James Investment Advisors LLC now owns 344 shares of the e-commerce giant’s stock worth $29,000 after buying an additional 170 shares during the last quarter. Retirement Financial Solutions LLC bought a new stake in shares of Amazon.com during the 4th quarter worth about $32,000. Laurel Wealth Planning LLC boosted its stake in shares of Amazon.com by 1,900.0% during the 2nd quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock worth $34,000 after acquiring an additional 304 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in shares of Amazon.com during the 4th quarter valued at about $37,000. Institutional investors own 57.64% of the company’s stock.

About Amazon.com

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.