Amazon stock price declined slightly despite overall market gains, upcoming earnings report expected to be positive.

From Nasdaq: 2024-07-15 17:45:18

Amazon (AMZN) closed at $192.38, down 1.08% from the previous day, lagging behind S&P 500 and Dow gains. Analysts expect earnings of $1.02 per share in the upcoming report, a 61.9% increase year-over-year, with revenue anticipated to be $148.54 billion, up 10.54%. Amazon currently has a Zacks Rank of #1 (Strong Buy). The stock is trading at a Forward P/E ratio of 42.45, a premium compared to the industry average. AMZN also has a PEG ratio of 1.43, higher than the industry’s average of 1.07, indicating projected earnings growth. The Internet – Commerce industry has a Zacks Industry Rank of 51, in the top 21% of all industries. It has been observed that top-ranked industries outperform lower-ranked ones by a factor of 2 to 1. To track Amazon in the market, visit Zacks.com for future trading sessions.



Read more at Nasdaq: Amazon (AMZN) Stock Sinks As Market Gains: Here’s Why