Amazon ( (AMZN) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Amazon is set to report its third-quarter earnings with analysts expressing optimism despite recent market volatility. Investment firm Wedbush has increased its price target for Amazon from $250 to $280, anticipating a strong breakout in 2026. The company’s cloud computing division, AWS, has experienced slower growth than expected, but analysts remain confident in Amazon’s long-term growth prospects due to its strong cloud backlog and investments in new data centers. Additionally, Amazon’s retail and advertising sectors continue to show steady momentum. Analysts project third-quarter revenue of $179.37 billion, a 12.9% increase from last year.
KeyBanc analyst Justin Patterson has assigned a Buy rating to Amazon stock with a price target of $300, suggesting an upside of over 35% from current levels. Patterson believes that investors are overly pessimistic about Amazon’s cloud business, making the stock an attractive buying opportunity. He also highlights the potential for Amazon’s advertising business and grocery sales to boost profits in the coming years. Meanwhile, Stifel analyst Mark Kelley has raised his price target for Amazon to $269, predicting an upside of over 20%. Overall, Amazon stock has a Strong Buy consensus rating, with analysts forecasting a 12-month return of 22%.