58 Analysts, Zero Sells: Amazon’s Price Target Is a Rare Consensus Vandita Jadeja Thu, October 8, 2026 at 12:30 PM EDT 5 min read AMZN -1.02% MSFT -1.04% GOOG -0.54% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Amazon (AMZN) earns a BUY rating with a $329 price target, offering 29% upside backed by 58 analysts and zero Sell ratings.
AWS grew 37% to $42 billion with a $496 billion backlog, while Amazon trades cheaper on EV/EBITDA than both Microsoft (MSFT) and Alphabet (GOOGL).
Trailing free cash flow turned negative at -$8 billion as Q2 capex hit $54 billion, though even the bear-case target of $283 tops today's price.
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The 24/7 Wall St. price target for Amazon (NASDAQ:AMZN) is $329.19. From today's $255.40, that works out to 28.9% upside. Our model rates the stock a buy with 70% confidence.
Wall Street lines up behind the same view. Analysts list 15 Strong Buy ratings, 43 Buys, 2 Holds and zero Sells. Their consensus target of $330.59 lands within about a dollar of ours. Our model's confidence fell to 0.7 from 0.9 in recent updates, which shows higher capital spending.
Amazon is up 3.76% over the past week, down 1.2% over the past month and up 10.65% year to date. The stock trades 11.1% below its $287.20 52-week high and 30.3% above its $196 low.
Q2 revenue came in at $200.61 billion, up 19.62% and ahead of the $196.43 billion estimate. GAAP EPS of $5.75 was inflated by a $53.4 billion Anthropic gain. On a comparable basis, EPS was about $1.88 against a $1.83 estimate. AWS revenue grew 37% to $42.23 billion, and the AWS backlog reached $496 billion.
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AWS now runs at a $169 billion annualized rate. Amazon's chief executive said it could become "a trillion-dollar annual revenue business for us in time." The AI and chips businesses each exceeded $25 billion run rates.
OpenAI committed about 2 GW of Trainium capacity starting 2027, and Anthropic up to 5 GW. Advertising rose 26% to $19.8 billion. On CNBC's Fast Money, Carter Worth argued for a bounce toward $305. Our bull scenario reaches $378.81.
Trailing free cash flow turned negative at -$7.6 billion, and Q2 capex hit $54.2 billion. The consensus EPS estimate for 2027 is $10.5149, below $12.8820 for 2026. Most of that gap shows one-time Anthropic gains in 2026.
Memory chip inflation and higher fuel costs add pressure. Management's response is that servers break even in a little under three years, and most AI capacity is contracted for terms of at least five years. Even the bear-case estimate of $283.35 sits above today's price.
Through Azure, Microsoft (NASDAQ:MSFT) competes directly with AWS. In both cloud and digital advertising, Alphabet (NASDAQ:GOOGL) competes with Amazon.
Microsoft trades at a higher EV/EBITDA multiple than Amazon while growing revenue more slowly. Alphabet grows faster but also costs more on EBITDA.
Both carry near-unanimous Buy coverage, with 2 Holds at Microsoft and 5 at Alphabet. Against these two peers, our target looks reasonable, even conservative.
The 24/7 Wall St. price target of $329.19 carries a buy rating at 70% confidence. AWS acceleration is the deciding factor.
I'd find Amazon compelling if backlog keeps converting into revenue. I'd grow cautious if capex keeps rising without a recovery in free cash flow.
These are the levels the 24/7 Wall St. price target model projects for Amazon in the coming years, assuming current trends hold.
The projections rest on Amazon continuing to execute its current strategy. Trainium sales to outside customers could add upside.
A slowdown in AI demand that leaves new capacity sitting idle would be the main downside risk. The flip side is the broader expansion feeding AWS: we highlighted seven power, cooling, and networking suppliers riding that same wave in a free report on AI infrastructure stocks.
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