Ahead of Amazon’s (AMZN) Prime Day event, J.P.Morgan analyst Doug Anmuth made upbeat comments about the shopping festival, despite ongoing macro pressures and tariff woes. Moreover, Truist Financial analyst Youssef Squali expects the e-commerce and cloud computing giant to deliver better-than-expected results for the second quarter of 2025. AMZN stock has risen about 10% over the past year.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Top Analyst Is Bullish on Amazon’s Prime Day Event
Amazon’s 11th annual Prime Day event will be held from July 8 to July 11 in 26 countries. Anmuth, who has a Buy rating on AMZN stock with a price target of $240, highlighted that this year, Prime Day will run for four days, compared to the 2-day duration over the past six years. The 5-star analyst expects the 2025 Prime Day to drive a 10% year-over-year growth in 1P (first-party), 3P (third-party), and physical store sales. Despite a volatile macro backdrop and softer consumer sentiment, Anmuth remains optimistic due to Prime Day’s expansive discounts and coupons as well as longer duration.
Additionally, Anmuth expects Prime Day’s financial benefits to extend well beyond the 4-day period. The analyst also expects this event to drive an early start to back-to-school/college shopping. Anmuth explained that drivers like fast delivery speeds, focus on essentials, and the expansion of the Prime ecosystem have boosted purchase amounts and frequency. He believes that the longer duration of the Prime Day event suggests that the company has sufficient inventory, despite tariff pressures, possibly due to forward buying in recent months. Based on all these positives, Anmuth stated that Amazon stock remains J.P.Morgan’s Best Idea.
Truist Analyst Is Confident About Amazon’s Q2 Results
Truist’s Squali reiterated a Buy rating on Amazon stock and raised the price target to $250 from $226. The analyst expects the company’s Q2 results to beat the consensus expectations, driven by a resilient North American consumer, “virtually unaffected by the macro or tariffs so far.” Squali also expects Amazon’s Q2 results to gain from favorable forex changes due to a weakening U.S. dollar as well as a modest increase in order frequency and average selling prices (ASPs).
As a result, Squali increased his revenue and operating income estimates for Q2 2025 above the Street’s estimates. While macro uncertainty persists, the analyst believes that sustaining Q2 trends into the third quarter should drive an outlook that is slightly above current consensus. He views Amazon as a share gainer and a long-term winner across e-commerce, advertising, cloud, and logistics businesses.
Is Amazon Stock a Buy, Hold, or Sell?
Overall, Wall Street is bullish on Amazon stock due to its dominant position in the e-commerce and cloud markets, growing ad business, and AI (artificial intelligence) tailwinds. Amazon scores a Strong Buy consensus rating on TipRanks, based on 47 Buys versus just one Hold recommendation. The average AMZN stock price target of $244.53 indicates 11.2% upside potential from current levels.
