Summary:
⚈ Analysts overwhelmingly rate AMZN a ‘buy’ despite recent price target cuts.
⚈ Trade war impact may outweigh earnings as Amazon’s key market driver.
The e-commerce and technology giant Amazon (NASDAQ: AMZN) has been hard pressed by the 2025 tariffs, and AMZN stock has lost 20% of its value since the trade war started in earnest in early February.
Despite the turmoil, Wall Street analysts have remained overwhelmingly bullish about the company, with the Amazon shares consensus rating on the analysis platform TipRanks standing at a resounding ‘buy,’ according to data Finbold retrieved on April 29.
The situation is similar for the average price target of $245.77, as it represents a 30.94% upside from the press time price of $188.06.
Overall, the balance of ratings also exemplifies the utter confidence in Amazon. Specifically, out of the 47 experts represented on the stock analysis platform, 46 consider AMZN a ‘buy,’ one sees it as a ‘hold,’ and none believe selling is the right call.
Analysts revise Amazon stock price target ahead of earnings
The latest revisions, issued just days ahead of the upcoming May 1 earnings report, paint a similar, optimistic picture. In the morning of April 29, UBS reiterated its previous ‘buy’ rating, albeit without a listed price target.
On April 28, Oppenheimer followed a pattern seen for numerous U.S. stocks when it kept its ‘buy’ recommendation even after lowering the forecast from $260 to $220.
Furthermore, almost every single firm that revised its Amazon outlook since April 20 did the same thing. Scotiabank, Raymond James, Jefferies, Goldman Sachs (NYSE: GS), Stifel, Roth, Telsey Advisory, and Moffett Nathanson all confirmed they still consider AMZN stock a ‘buy,’ despite all lowering their forecasts.
Wells Fargo (NYSE: WFC) was the only outlier in the last 10 days as it decreased its AMZN shares price target from $203 to $199, while opting to keep the previous ‘equalweight’ – ‘neutral’ – rating.
Why earnings won’t be the most important narrative for AMZN
Lastly, while the upcoming earnings would, under most other circumstances, be the biggest driver for Amazon in the stock market, 2025 could be somewhat different. Though the filing is almost guaranteed to have an impact, the trade war could be a far more important narrative.
The impact of the tariffs has yet to be fully seen and will likely not be reflected in the quarterly figures until the report covering the April to June trimester is released. Yet, the market has been highly reactive to trade war developments.
Thus, the biggest impact on Amazon could emerge from the company’s reported back-and-forth with its overwhelmingly Chinese suppliers and could depend on whether the corporation manages to offload the tariff costs upstream instead of passing them on to its consumers.
Still, even a triumph for Amazon itself would be limited as third-party sellers on the platform have already reportedly opted to hike prices, effectively participating in President Trump’s flat sales tax.
Featured image via Shutterstock
