Oppenheimer’s Jason Helfstein is out with a report this morning, hiking his price target on AMZN stock to $930 from $780. The analyst’s view on the e-commerce giant is based “[f]ollowing very bullish checks” on growing profits in cloud computing services. In addition, the analyst suggests that Amazon’s Web Services [AWS] is even more efficient than previously expected, leading to an upward revision of the company’s AWS estimates. Helfstein maintained an ‘Outperform’ rating.
Price Action
Amazon.com, Inc. (AMZN) shares have risen more than 70% year-over-year and are continuing their upward trend. Despite the run-up in the share price, security analysts rate the stock a ‘Buy’. Currently ticker boasts 33 ‘Buy’ endorsements, compared to 5 ‘Holds’ and no ‘Sell’. The median Wall Street price target on AMZN stock is $800 with a high target of $1,000.
Amazon.com Inc. recently traded at $726.73, 0.18% higher over Monday’s closing price. The name has a current market capitalization of $342.89 billion.
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply