Amazon (AMZN) closed slightly up, but underperformed market expectations

From Nasdaq: 2024-07-09 17:45:19

Amazon (AMZN) closed at $199.34, a +0.03% change from the previous day. Analysts predict earnings of $1.02 per share, with revenue expected to be $148.54 billion. Estimates for the year suggest earnings of $4.58 per share and revenue of $638.24 billion. Amazon currently holds a Zacks Rank of #2 (Buy).

Investors are urged to monitor Amazon’s valuation as it currently trades at a forward P/E ratio of 43.5, a premium compared to the industry average. AMZN’s PEG ratio stands at 1.47, with the Internet – Commerce industry having an average PEG ratio of 0.96. The Internet – Commerce industry ranks in the top 22% of all industries.

Zacks names a top stock pick with high growth potential. An overlooked chemical company, up 65% in the past year, offers massive upside. With strong demand and soaring earnings estimates, this company could outperform major players like Boston Beer Company and NVIDIA. Explore Zacks for more insights on potential stock movers.



Read more at Nasdaq: Amazon (AMZN) Gains But Lags Market: What You Should Know