Investors are heavily searching Amazon stock, with analysts expecting strong earnings growth.

From Nasdaq: 2024-07-08 12:50:55

Amazon (AMZN) is one of the most searched stocks on Zacks.com. Over the past month, its shares have returned +8.5% compared to the industry’s +7.5% growth. Analysts expect Amazon to post earnings of $1.02 per share for the current quarter, with a +61.9% change year-over-year.

Zacks prioritizes the change in a company’s future earnings projections to determine fair value for its stock. Amazon’s consensus earnings estimate for the current fiscal year is $4.58, pointing to a +57.9% change. The consensus estimate for the next fiscal year is $5.80, indicating a +26.6% change.

Amazon’s track record and recent consensus estimate changes have led to a Zacks Rank #2 (Buy) rating. The company is expected to see revenue growth with estimates of $148.54 billion for the current quarter, +10.5% year-over-year. Its valuation metrics suggest that Amazon is currently trading at a discount to its peers.

The facts and information provided by Zacks.com may help investors decide whether to pay attention to Amazon’s market performance. With a Zacks Rank #2 and potential for strong growth, Amazon could outperform the broader market in the near term. Zacks experts have named Amazon as one of the top stocks to watch for potential explosive upside.



Read more at Nasdaq: Investors Heavily Search Amazon.com, Inc. (AMZN): Here is What You Need to Know