Amazon stock (Nasdaq: AMZN) is trading at the $221 mark, trading steady at this price range over the past week. The Mag-7 company performed well in 2024, posting solid earnings reports throughout 2024. With the Q4 report looming to close off fiscal year 2024, AMZN is hoping to post outperforming earnings yet again. Such a result would help set the tone for the tech giant’s performance throughout early 2025.
Amazon is expected to announce its fiscal Q4 earnings results on Thursday, February 6. Ahead of the event, analysts expect the company to report a profit of $1.53 per share, up 51.5% from $1.01 per share in the same quarter last year. The company has surpassed Wall Street’s bottom-line estimates in the past four quarters. Additionally, in the most recent quarter, AMZN exceeded the consensus EPS estimates by a 25.4% margin.
If the company indeed outperforms its previous earnings report and analysts’ expectations, AMZN stock may see a significant bump. Following Amazon’s Q3 results, Shares of AMZN soared 6.2%. Amazon Web Services (AWS) maintained solid momentum with 19.1% revenue growth, highlighting its growing role in generative AI and partnerships, while advertising revenues surged 19%, reflecting the strength of its high-margin businesses.
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Furthermore, the earnings will also put into perspective fiscal 2024’s final numbers. For fiscal 2024, analysts expect AMZN to report an EPS of $5.38, up 89.4% from $2.84 in fiscal 2023. Such a climb will see investors extremely bullish on the company, which could give the stock another 6-10% boost.
48 Wall Street strategists have given a ‘buy’ target for AMZN, while one analyst has given it a ‘hold’ call, according to TipRanks. Wall Street analysts remain bullish on Amazon’s prospects in 2025, projecting a high of $290, just short of $300.