Though Amazon (NASDAQ: AMZN) stock suffered an 8.54% decline to $259.77 through August and is facing a new FTC lawsuit over alleged overcharging, Wall Street analysts remain optimistic about the e-commerce and technology giant.
Indeed, in the last three days alone, AMZN shares saw three 12-month price target revisions, placing the equity’s value well above $300 by the start of September 2027.
The first of these was provided by Citizens analyst Andrew Boone, who, along with maintaining the ‘Market Outperform’ – ‘Buy’ – rating for the firm, assessed that Amazon stock will rise to $315: 21.26% above the latest close at $259.77.
Wells Fargo’s (NYSE: WFC) Ike Boruchow proved even more optimistic on August 31 when he issued a ‘Buy’ recommendation for AMZN equity and estimated it would rise 26.27% to $328 in the next 12 months.
Simultaneously, the last of the three most recent revisions was also the most bullish. Specifically, Eric Sheridan, an analyst from Goldman Sachs (NYSE: GS), gave Amazon stock a positive rating and set his price target at $375: 14.33% higher than Boruchow, 19.05% over Boone’s, and 44.36% above the shares’ latest close.
Analysts predict Amazon stock price in 12 months
Zooming out, the most recent notes are largely in line with the average Wall Street attitude toward AMZN. Examining the forty ratings issued in the last three months reveals an almost universal bullishness for the e-commerce and technology blue-chip as, among them, there is only a single ‘Neutral’ and no negative recommendations.
Additionally, the average price target for the next 12 months stands at $334.05, meaning Amazon stock is generally expected to rally 28.60% from its August 31 close at $259.77.
Finally, AMZN shares received no forecasts below $300 through the entirety of the previous months, despite recording a substantial decline within the timeframe, highlighting confidence in the company’s core business, as well as the importance of AWS for the ongoing artificial intelligence (AI) ‘boom’.
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