Amazon (AMZN) upgraded to Zacks Rank #1 (Strong Buy) due to positive earnings trend

From Nasdaq: 2025-01-08 12:00:12

Amazon (AMZN) has been upgraded to a Zacks Rank #1 (Strong Buy) due to an upward trend in earnings estimates. This positive change reflects an improvement in the company’s underlying business, which could lead to a favorable impact on its stock price. Analysts expect Amazon to earn $5.28 per share for the fiscal year ending December 2024, a change of 82.1% from the previous year. Over the past three months, the Zacks Consensus Estimate for Amazon has increased by 8.3%.

The Zacks rating system, which classifies stocks based on earnings estimates, has a track record of success. Stocks with a Zacks Rank #1 have generated an average annual return of +25% since 1988. This system is based on objective factors and effectively harnesses the power of earnings estimate revisions. Amazon’s upgrade to a Zacks Rank #1 signifies its position in the top 5% of Zacks-covered stocks, indicating a potential for the stock to move higher in the near term.

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