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Investing.com - BofA Securities has reiterated its Buy rating and $248.00 price target on Amazon.com (NASDAQ:AMZN), the $2.4 trillion e-commerce giant with a "GREAT" financial health rating according to InvestingPro, following an analysis of Prime Day performance.
The firm estimates that Amazon’s Prime Day generated approximately $21.4 billion in Gross Merchandise Value (GMV), representing a 60% year-over-year increase. This performance builds on Amazon’s strong revenue growth of 10.08% over the last twelve months.
BofA notes that Prime Day was extended to four days this year, twice as long as in 2024, which impacted year-over-year comparisons and led to average daily sales declining 20% despite the overall GMV growth.
The analysis projects first-party sales growth of 55% year-over-year to $11.45 billion and third-party sales growth of 67% year-over-year to $9.95 billion during the shopping event.
BofA Securities estimates that the 96-hour Prime Day event could represent 10.3% of Amazon’s total GMV for the third quarter, up from 7.0% in 2024, based on their projection of $208 billion in quarterly GMV. Investors can track Amazon’s performance when it reports Q2 earnings on July 31, 2025. For deeper insights into Amazon’s financials and 12+ exclusive ProTips, visit InvestingPro.
In other recent news, Amazon.com Inc. has been under scrutiny for its actions at a warehouse near Vancouver, Canada. The British Columbia Labour Relations Board ruled that Amazon conducted a "lengthy and pervasive anti-union campaign," violating provincial labor laws. In response to these findings, Amazon stated it was merely providing factual information to employees. Meanwhile, analysts have been adjusting their outlook on Amazon. Piper Sandler raised its price target for Amazon to $250, citing stronger AWS estimates and increased gross margin projections. Morgan Stanley (NYSE:MS) also increased its price target to $300, influenced by a more favorable tariff environment and improved macroeconomic conditions. Additionally, BofA Securities maintained its Buy rating, highlighting the potential of Amazon’s Kuiper satellite project, which could capture significant market share in satellite communications. These developments indicate ongoing confidence in Amazon’s growth prospects among analysts.
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