Amazon Stock Price Forecast: What Analysts Say About AMZN's Future
Amazon Stock Performance Overview
AMZN has demonstrated strong growth in 2024, particularly due to its leadership in e-commerce and Amazon Web Services (AWS). Despite downturns, like the recent decline connected to market trends, the stock is up 22.22% since January, signaling a resilient performance.
Analysts’ Forecasts for AMZN
According to TipRanks, 44 out of 45 analysts have rated AMZN as a buy, projecting a significant price target increase of 20.13% from its current trading value of $183.25. However, some analysts express concerns about short-term performance due to heightened competition and market fluctuations.
Wells Fargo's Cautious Outlook
- The downgrade of AMZN from 'overweight' to 'equal weight' suggests a possible short-term price adjustment.
- The new Street low price target reflects cautious sentiment amidst rising competition.
Contrasting Bullish Predictions
- JPMorgan and Truist maintain high targets of $265, affirming continued long-term potential for AMZN.
- Morgan Stanley supports an 'overweight' rating with a $210 forecast.
In summary, while recent fluctuations may raise eyebrows, the overarching projection remains optimistic for Amazon's stock price, suggesting strong recovery potential in the upcoming year.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.