E-commerce and cloud computing giant Amazon (AMZN) is scheduled to announce its first-quarter earnings on April 29. AMZN stock has risen 8.6% year-to-date and 45% over the past year. Ahead of Q1 2026 earnings, Wall Street is bullish on Amazon stock. Top TD Cowen analyst John Blackledge reiterated a Buy rating on AMZN stock with a price target of $300, which reflects 20% upside potential. The analyst expects the company’s Q1 earnings and outlook to reflect AI-led strength in the Amazon Web Services (AWS) cloud unit.
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Meanwhile, Wall Street expects Amazon to report earnings per share (EPS) of $1.63, reflecting 2.5% year-over-year growth. Revenue is projected to rise about 14% to $177.15 billion.
Here’s What Top Analyst Expects from Amazon’s Q1 Earnings
Blackledge expects Amazon to report Q1 2026 revenue slightly above the Street’s consensus estimate, driven by accelerating AWS growth. In Q4 2025, AWS revenue grew 24% year-over-year, with CEO Andy Jassy highlighting that it was the unit’s “fastest growth in 13 quarters.”
Furthermore, the 5-star analyst expects the company’s Q1 operating income to be about 4% above consensus, driven by high-margin advertising and AWS segments. Blackledge also expects Amazon’s operating income to benefit from continued gains from fulfillment efficiencies.
Coming to the outlook for Q2 2026, Blackledge’s revenue and operating estimates are 1.5% and 5% above the Street’s consensus expectations, respectively. These projections reflect further acceleration in AWS growth and continued strength in e-commerce and advertising businesses.
Is Amazon a Good Stock to Buy Now?
Currently, Wall Street has a Strong Buy consensus rating on Amazon stock based on 42 Buys and three Holds. The average AMZN stock price target of $284.77 indicates about 14% upside potential.
