Following the announcement of an outstanding Q4 earnings report for fiscal year 2023, shares of Amazon (AMZN: NSD) jumped in after-hours trade yesterday. The company handily surpassed analyst expectations on both revenue and earnings per share, sending a wave of optimism through the market.
Key Financial Figures from Q4 Report:
Here are the key financial insights from the Q4 Report of Amazon.
- EPS: $1.00, exceeding analyst estimates of $0.80 per share.
- Revenue: $170 billion, surpassing expectations by $3.74 billion.
- Year-over-year growth: 13.9% revenue increase.
- Segment performance:
- North America: Sales up 13% to $105.5 billion.
- International: Sales up 17% to $40.2 billion.
- AWS: Sales up 13% to $24.2 billion.
Stock Target Advisor’s Take on Amazon:
Stock Target Advisor maintains a ‘Hold’ rating for Amazon’s shares with a target price of $169.32, There is a projected price change of 9.1% for the coming 12 months. On an average, analysts have rated AMZN as a ‘Strong Buy’ and set a target price of $173.92.
A total of 37 analysts covers Amazon.com Inc and the average rating stands strong as a ‘Buy.’ The sector Analysis for the Internet Retail sector in NSD Exchange reveals steady progress, thus maintaining a promising outlook for AMZN stocks.
Market Sentiment and Future Outlook:
The positive earnings report sent ripples across the market, with the broader tech sector experiencing gains. However, it’s important to note that future market performance can be influenced by various factors.
Looking ahead, Amazon’s forward guidance indicates an optimistic Q1 2024. The company forecasts revenue in the range of $138 billion to $143.5 billion and operating income between $8 billion to $12 billion.
Conclusion:
Amazon’s remarkable Q4 performance, combined with robust year-on-year growth across all its key segments, paints a bright forecast for the future. While the company continues to make strides on the global stage, investors might want to hold on to the Amazon roller-coaster, hoping to enjoy a rewarding ride.
Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product/services forecast as indicated by major brokers covering the stock.
