As Amazon.com, Inc. (NASDAQ: AMZN) reported 36.7% year-over-year (YoY) growth to $42.23 billion in AWS (Amazon Web Services) revenue during the second-quarter earnings, over five Wall Street analysts have reiterated a bullish outlook for the stock for the next 12 months.
On July 31, Jeffrey Wlodarczak, an analyst at Pivotal Research, maintained a ‘Buy’ rating for Amazon stock. Wlodarczak lifted the firm’s 12-month price target for AMZN shares to $333 from $320, representing a 4.06% raise.
AMZN stock closed Thursday trading at $235.99 but had surged to $264.67 during the pre-market session. As a result, Wlodarczak expects the company’s shares to rally 25.8% over the next 12 months.
Dylan Carden, an expert from William Blair, reiterated a Buy rating for Amazon stock, but did not provide a price target. John Blackledge, an analyst from TD Cowen, reaffirmed a ‘Buy’ rating for AMZN, and increased the firm’s 12-month target to $350 from $340.
Piper Sandler raised its Amazon price target to $320 from $315, and maintained an ‘Overweight’ rating. Meanwhile, Bernstein raised its Amazon stock price target to $320 from $315, maintaining an ‘Outperform’ rating.
These analysts reiterated Buy ratings for AMZN shares, driven by AWS revenue growth amid an expanding AI (Artificial Intelligence) chip business. For instance, Bernstein expects a bullish outlook following a $25 billion AI revenue run rate.
Meanwhile, Piper highlighted underlying business momentum despite the uptick in 2026 capex to $220 billion, due to higher memory costs.
Amazon stock forecast and outlook
As Andy Jassy, Amazon CEO, welcomed a booming AWS business during the Q2 report, 30 Wall Street analysts surveyed by TipRanks have set an average 12-month price target of $318.46, signaling a possible 20.3% upside.
As such, Amazon stock could hit a new all-time high over the coming 12 months if the target for Wall Street analysts is his.
