Amazon Inc (AMZN) Ratings and Stock Analysis

Stock Market Update for June 13th, 2024

Amazon Analyst Coverage

  1. JMP Securities: Reiterated their Market Outperform rating on Amazon with a target price of USD 225,
  2. Telsey Advisory Group: Maintained their Outperform rating on Amazon with a target price of USD 200.
  3. Citigroup: Raised their target price for Amazon from USD 215 to USD 235 while maintaining their Buy rating.
  4. Benchmark Research: Reiterated their Buy rating on Amazon with a target price of USD 200.
  5. UBS: Raised their target price for Amazon from USD 198 to USD 215 while maintaining their Buy rating.

Forecast & Analysis

Based on the provided information, let’s delve into a comprehensive forecast and analysis for Amazon.com Inc’s stock:

1. Average Analyst Target Price: With an average target price of USD 198.98 based on the forecasts of 30 analysts, there’s a clear consensus that Amazon’s stock is expected to appreciate significantly over the next 12 months. This indicates a potential upside of around 12.6% from the recent closing price of USD 176.59.

2. Average Analyst Rating: The average analyst rating of Strong Buy suggests a high level of confidence among analysts regarding Amazon’s future performance. This sentiment is often reflective of positive assessments of the company’s fundamentals, growth prospects, and market positioning.

3. Stock Target Advisor’s Analysis: Despite some short-term fluctuations and mixed signals, Stock Target Advisor’s analysis leans towards a Slightly Bullish stance on Amazon’s stock. This suggests that while there may be minor concerns or uncertainties, overall indicators point towards a favorable outlook.

4. Recent Stock Performance: Although Amazon’s stock experienced a slight decline of -2.59% over the past week and -1.27% over the past month, it’s essential to consider the broader context. Over the last year, the stock has demonstrated robust growth, with an impressive increase of +66.26%. This long-term trend underscores Amazon’s resilience and potential for sustained growth, despite short-term market fluctuations.

Forecast and Analysis Summary: Considering the collective insights from analysts, Stock Target Advisor, and recent stock performance, here’s a summarized forecast and analysis for Amazon.com Inc’s stock:

  • Short-Term Outlook: While recent performance has seen minor declines, the average analyst target price and Strong Buy rating suggest confidence in Amazon’s ability to rebound and continue its upward trajectory. Short-term fluctuations may present buying opportunities for investors.
  • Medium to Long-Term Outlook: The strong positive change over the last year indicates that Amazon remains well-positioned for sustained growth. Investors with a medium to long-term horizon may find Amazon’s stock attractive, given its proven track record, dominant market position, and ongoing innovation across various sectors.

Overall, Amazon.com Inc’s stock appears poised for continued growth, supported by favorable analyst sentiment, a bullish outlook from Stock Target Advisor, and a history of delivering value to shareholders over the long term. However, investors should remain vigilant of market dynamics and company-specific developments that may impact stock performance.

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