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Increased Earnings Estimates Seen for Amazon.com (AMZN): Can It Move Higher?

Amazon.com, Inc. AMZN is a leading electronic commerce and cloud computing company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AMZN‘s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Amazon.com could be a solid choice for investors.

Current Quarter Estimates for AMZN

In the past 30 days, 9 estimates have gone higher for Amazon.com, while 3 have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 92 cents a share 30 days ago, to $1.12 a share today, a move of 21.7%. 

Current Year Estimates for AMZN

Meanwhile, Amazon.com’s current year figures are also looking quite promising, with 11 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $4.60 per share 30 days ago to $5.38 per share today, an increase of 17%.

Bottom Line

The stock has also started to move higher lately, adding 14.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
AMAZON.COM INC (AMZN): Free Stock Analysis Report
 
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