All 62 analysts covering Amazon rate it a Buy or Hold, with a $353 price target implying significant upside from current levels.
Amazon’s stock has drawn unanimous bullish sentiment from analysts, with none of the 62 covering the company rating it a Sell. A proprietary model sets a $353.44 price target, representing 32.24% upside from Wednesday’s close of $267.28, with 90% confidence in the projection.
The stock has gained 20.68% over the past year but lags peers like Alphabet, which surged 69%. Amazon’s Q2 revenue reached $200.61 billion, up 19.6% year over year, while AWS grew 37%, its fastest pace in 18 quarters. Despite strong cloud performance, free cash flow turned negative as capex guidance hit $220 billion for the year.
AWS backlog and advertising growth, which rose 26% to $19.81 billion, underscore Amazon’s momentum. CEO Andy Jassy highlighted AWS’s potential to become a $1 trillion annual revenue business, while AI and custom chips each surpassed $25 billion in annualized run rate.