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In 2024, Amazon's stock has continued its strong performance, hitting a new record high closing price on April 11, 2024. Investor's Business Daily states that Amazon stock closed at $189.05 on that date, marking the company's first record close since July 2021. This represents a full recovery for Amazon's shares after a nearly 50% decline in 2022.
Investor's Business Daily indicates that Wall Street analysts are bullish on Amazon's outlook, with 95% of the 61 analysts covering the stock maintaining a "buy" rating. On average, these analysts have set a 12-month price target of $210 for Amazon's stock, implying around 15% upside from the April 11 closing price.
Amazon's strong 2024 performance has been driven by several factors. The company's fourth-quarter 2023 earnings report in February 2024 exceeded expectations, with a 14% year-over-year revenue increase and a surge in earnings per share. Additionally, Amazon's push into generative AI, including its investment in Anthropic, has been well-received by analysts who see this as a key growth opportunity.
However, Investor's Business Daily also notes that Amazon faces some headwinds, including increased competition in e-commerce from rivals like Walmart and Target, as well as a major antitrust lawsuit filed by the Federal Trade Commission. Nevertheless, the overall sentiment appears to be that Amazon's stock remains a buy, with the potential for further gains in 2024 based on the company's strong fundamentals and strategic initiatives.
Amazon FY2023 Q4 Key Indicators | Value | YOY |
EPS | $1.00 | +3233.33% |
PE Ratio | 61.80 | / |
FCF | $27.9B | +121.58% |
Current Ratio | 1.05 | +10.63% |
ROA | 2.09% | +3255.61% |
ROE | 5.52% | +2715.45% |
Gross Margin | 17.22% | +30.81% |
Net Margin | 6.25% | +3254.86% |
For more information, such as definitions and explanations of the above technical terms, please view: Interpretation of Key Indicators >>
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Amazon reported strong financial results for the fourth quarter of 2023. Here are some of the key highlights:
Revenue Growth
● Amazon's net sales increased 14% to $170.0 billion in Q4 2023, compared to $149.2 billion in Q4 2022.
● For the full year 2023, net sales increased 12% to $574.8 billion, compared to $514.0 billion in 2022.
● The North America segment saw a 13% year-over-year increase in net sales in both Q4 and the full year.
● The International segment had a 17% year-over-year increase in net sales in Q4 and an 11% increase for the full year.
● AWS segment net sales grew 13% year-over-year in both Q4 and the full year.
Profitability
● Operating income increased to $13.2 billion in Q4 2023, compared to $2.7 billion in Q4 2022.
● For the full year, operating income increased to $36.9 billion, up from $12.2 billion in 2022.
● Net income was $10.6 billion in Q4 2023, compared to $0.3 billion in Q4 2022.
● Full-year net income was $30.4 billion, a significant improvement from the $2.7 billion net loss in 2022.
Cash Flow and Liquidity
● Operating cash flow increased 82% to $84.9 billion for the trailing twelve months.
● Free cash flow improved to an inflow of $36.8 billion for the trailing twelve months, compared to an outflow of $11.6 billion in the prior period.
● Free cash flow less principal repayments of finance leases and financing obligations improved to an inflow of $32.2 billion, compared to an outflow of $19.8 billion in the prior period.
Other Highlights
● Amazon held a record-breaking Black Friday and Cyber Monday holiday shopping event, with customers worldwide purchasing more than 1 billion items.
● The company continued to expand its delivery capabilities, with more than 7 billion units arriving same or next day to Prime members globally.
● Amazon announced new partnerships, product launches, and investments in areas like generative AI, cloud services, and renewable energy.
Overall, Amazon's Q4 2023 and full-year 2023 results demonstrate strong revenue growth, improved profitability, and healthy cash flow generation across its business segments.
North America Segment
● Net sales increased 13% year-over-year to $105.5 billion in Q4 2023 and 12% to $352.8 billion for the full year 2023.
● Operating income was $6.5 billion in Q4 2023, compared to an operating loss of $0.2 billion in Q4 2022.
● Full year operating income was $14.9 billion, compared to an operating loss of $2.8 billion in 2022.
International Segment
● Net sales increased 17% year-over-year to $40.2 billion in Q4 2023 and 11% to $131.2 billion for the full year.
● Operating loss decreased from $2.2 billion in Q4 2022 to $0.4 billion in Q4 2023.
● Full year operating loss improved from $7.7 billion in 2022 to $2.7 billion in 2023.
AWS Segment
● Net sales grew 13% year-over-year to $24.2 billion in Q4 2023 and 13% to $90.8 billion for the full year.
● Operating income increased from $5.2 billion in Q4 2022 to $7.2 billion in Q4 2023.
● Full year operating income rose from $22.8 billion in 2022 to $24.6 billion in 2023.
Product and Service Categories
● Online Stores: Net sales of $70,543 million in Q4 2023, increased 9% year-over-year.
● Physical Stores: Net sales of $5,152 million in Q4 2023, grew 4% year-over-year.
● Third-Party Seller Services: Net sales of $43,559 million in Q4 2023, increased 20% year-over-year.
● Advertising Services: Net sales of $14,654 million in Q4 2023, grew 27% year-over-year.
● Subscription Services: Net sales of $10,488 million in Q4 2023, increased 14% year-over-year.
Amazon earnings date is coming soon! Following an extensive evaluation of Tesla's financial data, revenue, and stock trends over the last few quarters by more than 45 third-party financial analysts, AMZN Stock has been given a Strong Buy rating. Analysts forecast an average stock price of $211.900 (Average) for the next 12 months.
- Third Party Analyst rating: Strong Buy
- Amazon Price Target: $211.900
- FY2024 Q1 EPS Forecast: $0.831
- FY2024 Q1 Revenue Forecast: $142.6B
- FY2024 Q1 EBIT Forecast: $10.9B
For more information on what the analyst ratings may mean, visit https://pro.benzinga.com/blog/what-do-stock-analyst-ratings-mean/ (Benzinga is not affiliated with Moomoo Technologies Inc., Moomoo Financial Inc., or its affiliates.)
Technical Indicators | Value | Signal |
KDJ | k:29.411 D:49.308 J:-10.382 | neutral |
OSC | OSC:-297.050 | bullish |
BIAS | BIAS1:-2.476 BIAS2:-2.550 BIAS3:-1.046 | neutral |
RSI(12) | RSI12:44.597 | neutral |
RSI(24) | RSI24:53.210 | neutral |
MACD | DIF:1.986 DEA:2.764 MACD:-1.556 | bearish |
MA | MA5:182.714 MA10:184.450 MA20:182.190 MA30:180.053 MA60:174.571 | neutral |
BOLL | MID:182.190 UPPER:188.276 LOWER:176.105 | neutral |
For more information, such as definitions and explanations of the above technical terms, please view:
According to analysts, what is the average 12-month price target for Amazon?
Amazon's 12-month average price target is $211.900, as per AMZN analyst ratings.
What is the third-party analyst rating of Amazon? Should I buy, sell or hold?
Based on 31 analysts giving stock ratings to AMZN in the past 3 months, Amazon's rating is "Strong Buy".
Where can I find when companies are scheduled to report their earnings?
On Moomoo earnings calendar, there is a list available for you to view the companies that are reporting earnings today.
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