Amazon (NASDAQ: AMZN) stock recorded a strong year in 2024, with a 47.39% gain. The e-commerce titan’s latest earnings report, released on October 31, marked the seventh consecutive quarter in which the company beat earnings estimates.
As of January 22, AMZN shares were trading at a price of $232.43, having rallied by 5.94% since the beginning of 2025.
At present, Amazon stock is the most widely recommended ‘Buy’ per Wall Street analysts. In recent weeks, an increasing number of researchers have set bullish price targets — most of them aiming for the $270 mark.
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On Wednesday, January 22, a similar sentiment was echoed by Cantor Fitzgerald senior equity research analyst Deepak Mathivanan.
Cantor Fitzgerald sees plenty of potential bullish catalysts ahead for Amazon stock
In a note shared with investors, Mathivanan reaffirmed his prior ‘Strong Buy’ rating and, like many of his colleagues, set a price target of $270 for AMZN stock. If met, the analyst’s price forecast would equate to a 16.16% upside from the stock’s current price. The Cantor Fitzgerald researcher also dubbed the stock one of the firm’s ‘Top Picks’ for 2025.
Further clarifying his statements, Mathivanan said that the stock screens the best among all mega-cap names that CF covers in terms of Q4 2024 and Q1 2025.
Along with this, he opined that Amazon stock has plenty of potential catalysts through 2025 — and that it should stand to benefit from steady AWS acceleration and margin expansion from the company’s retail sector. Many of these factors were echoed earlier by Wolfe Research’s Shweta Khajuria.
The analyst also highlighted that AWS stands to benefit the most from the accelerated growth that is being seen in inference workloads, owing to the company’s strong infra stack and established customer relationships.
While the equity researcher did note that the launch of Project Kuiper, Jeff Bezos’ latest project and would-be competitor to Elon Musk’s Starlink, will likely provide headwinds in terms of margins, on the whole, Mathivanan expects to see margin expansion — significantly aided by the retail segment’s fixed cost leverage advantage.
Amazon’s next earnings call is scheduled for January 30. The company is currently trading at a forward price-to-earnings (PE) ratio of 37.51 — but another earnings beat would go a long way in justifying Wall Street’s broadly bullish outlook.
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