Amazon.com stock price target raised to $285 from $250 at Citizens JMP

Investing.com - Citizens JMP analyst raised the price target on Amazon.com (NASDAQ:AMZN) to $285.00 from $250.00 while maintaining a Market Outperform rating. According to InvestingPro data, Amazon’s stock is currently trading near its Fair Value, with analyst targets ranging from $195 to $305.

The firm cited Amazon’s extensive reach across more than 100 million U.S. households as a key factor in the decision, supported by what it described as a best-in-class logistics network and expanding product selection. This massive scale has helped drive Amazon’s impressive revenue to $650.31 billion in the last twelve months, with a solid 10.08% growth rate.

Citizens JMP believes Amazon’s ability to offer faster delivery can continue to unlock demand for additional retail categories and drive retail growth, according to the research note.

The analyst also pointed to Amazon’s retail network as fueling consumer data that drives its advertising business, which Citizens JMP expects to gain market share due to Amazon’s growing connected TV (CTV) business.

The firm highlighted artificial intelligence as a potential catalyst for Amazon Web Services (AWS), stating that AI could help accelerate AWS growth, which Citizens JMP views as an underappreciated opportunity. For deeper insights into Amazon’s AI potential and comprehensive analysis, access the full Pro Research Report available on InvestingPro.

In other recent news, Amazon.com has been the focus of several significant developments. Citizens JMP has raised its price target for Amazon to $285, citing the company’s strong position in logistics, data, and cloud services through Amazon Web Services (AWS). This firm expects Amazon to maintain high-single-digit growth for multiple years, driven by eCommerce and digital advertising. Meanwhile, TD Cowen also increased its price target to $250, anticipating that Amazon will surpass revenue and operating income estimates due to continued growth in AWS, advertising, and e-commerce. In technological advancements, Amazon Web Services unveiled a custom cooling system for Nvidia (NASDAQ:NVDA)’s AI chips, enhancing its data center capabilities. This innovation supports the launch of new computing instances designed for advanced AI development. Additionally, Amazon is under investigation by the Canadian Competition Bureau regarding its Marketplace Fair Pricing Policy, which may impact pricing strategies on Amazon.ca. The Bureau is examining whether this policy limits competition and affects seller pricing. Lastly, Citizens JMP reiterated a Market Outperform rating on Amazon, maintaining a $250 price target, following a study on vendor perspectives regarding Amazon’s growth and margins.

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