In the latest trading session, Amazon (AMZN) closed at $3,246.30, marking a -1.29% move from the previous day. This change lagged the S&P 500's 0.69% loss on the day.Prior to today's trading, shares of the online retailer had lost 5.2% over the past month. This has was narrower than the Retail-Wholesale sector's loss of 5.22% and lagged the S&P 500's loss of 2.58% in that time.Wall Street will be looking for positivity from AMZN as it approaches its next earnings report date. The company is expected to report EPS of $8.72, down 29.51% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $111.85 billion, up 16.33% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $52.18 per share and revenue of $475.55 billion, which would represent changes of +24.74% and +23.18%, respectively, from the prior year.Any recent changes to analyst estimates for AMZN should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AMZN currently has a Zacks Rank of #3 (Hold).Digging into valuation, AMZN currently has a Forward P/E ratio of 63.03. This represents a premium compared to its industry's average Forward P/E of 55.12.We can also see that AMZN currently has a PEG ratio of 2.39. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Commerce was holding an average PEG ratio of 2.39 at yesterday's closing price.The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 28% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs Now >>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 To read this article on Zacks.com click here.