From Nasdaq: 2024-05-08 09:15:06

Shares of Amazon (AMZN) have surged, hitting a new 52-week high of $189.94. The stock has gained 24.2% year-to-date, surpassing the Zacks Retail-Wholesale sector and Internet-Commerce industry. Amazon reported strong earnings with EPS of $1.13, beating estimates. Analysts expect EPS of $4.54 for the current fiscal year and $5.77 for the next.

Amazon’s stock trades at a premium with a PEG ratio of 1.4. Despite this, the company has solid growth and momentum scores, earning a VGM score of A. With a Zacks Rank of #2 (Buy) and rising earnings estimates, Amazon looks promising for investors in the near future.

Comparatively, PDD Holdings Inc. (PDD) stands out with a Zacks Rank of #1 (Strong Buy) and strong financials. PDD exceeded earnings estimates by 50.94% last quarter and is forecasted to post earnings of $8.47 per share for the current fiscal year. The Internet-Commerce industry holds promise for both Amazon and PDD, with positive tailwinds.



Read more at Nasdaq: Amazon.com, Inc. (AMZN) Hit a 52 Week High, Can the Run Continue?