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Amazon (AMZN) Stock Drops Despite Market Gains: Important Facts to Note

In the latest market close, Amazon (AMZN) reached $183.83, with a -1.64% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.23%. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq added 0.34%.

Heading into today, shares of the online retailer had gained 0.48% over the past month, lagging the Retail-Wholesale sector's gain of 0.79% and the S&P 500's gain of 3.96% in that time.

Market participants will be closely following the financial results of Amazon in its upcoming release. The company is forecasted to report an EPS of $1.02, showcasing a 61.9% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $148.54 billion, showing a 10.54% escalation compared to the year-ago quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.58 per share and a revenue of $638.24 billion, indicating changes of +57.93% and +11.04%, respectively, from the former year.

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Investors should also pay attention to any latest changes in analyst estimates for Amazon. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.96% increase. Right now, Amazon possesses a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Amazon has a Forward P/E ratio of 40.79 right now. This denotes a premium relative to the industry's average Forward P/E of 18.1.

Also, we should mention that AMZN has a PEG ratio of 1.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Internet - Commerce industry held an average PEG ratio of 0.96.

The Internet - Commerce industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 70, this industry ranks in the top 28% of all industries, numbering over 250.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Amazon.com, Inc. (AMZN) : Free Stock Analysis Report

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Zacks Investment Research