From Nasdaq: 2024-11-12 08:03:54

Amazon.com, Inc. (AMZN) is the world’s largest online retailer with a market cap of $2.2 trillion, offering a wide range of products and services. Despite a 44.1% gain in the past year, AMZN has lagged behind the ProShares Online Retail ETF (ONLN) but outperformed the S&P 500 Index.

AMZN’s success is driven by its ad tech business, AWS cloud computing, and Whole Foods acquisition. On Oct. 31, AMZN shares dropped over 3% despite beating Q3 earnings expectations. Analysts predict a strong EPS growth of 85.6% for the current fiscal year, with a consensus rating of “Strong Buy” from 49 analysts.

Analyst Ronald Josey reaffirmed a “Buy” rating for AMZN with a price target of $252, implying a potential upside of 21.8%. The mean price target of $236.78 represents a 14.5% premium, while the Street-high price target of $285 suggests a 37.8% upside potential.



Read more at Nasdaq: Amazon.com Stock: Is Wall Street Bullish or Bearish?