Published on 22 Mar 2024 on Zacks via Yahoo Finance
Amazon.com, Inc. (AMZN) Hits Fresh High: Is There Still Room to Run?
Have you been paying attention to shares of Amazon (AMZN)? Shares have been on the move with the stock up 2% over the past month. The stock hit a new 52-week high of $181.42 in the previous session. Amazon has gained 17.3% since the start of the year compared to the 10.8% move for the Zacks Retail-Wholesale sector and the 10.4% return for the Zacks Internet - Commerce industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on February 1, 2024, Amazon.com reported EPS of $1.01 versus consensus estimate of $0.81 while it beat the consensus revenue estimate by 2.23%.