Amazon.com (AMZN) PT Raised to $250 at Citizens JMP

Citizens JMP analyst Nicholas Jones raised the price target on Amazon.com (NASDAQ: AMZN) to $250.00 (from $240.00) while maintaining a Market Outperform rating.

The analyst commented, “Amazon.com, Inc. reported solid top-line results, while operating income and margin were better than expected, largely driven by AWS OIM coming in well above expectations. Net sales guidance for 2Q was in line with consensus, though operating income/margin came in below expectations. Project Kuiper costs and AMZN's annual step-up in SBC are anticipated to weigh on 2Q's OIM; recall, AMZN will expense costs related to Project Kuiper until it reaches commercial viability, which we expect to be sometime in 2026, despite a service launching later this year. AMZN's retail business remains durable and saw strength in everyday essentials and grocery. With the uncertainty around tariffs, AMZN intends to remain focused on the customer experience and providing the broadest selection of goods at the lowest prices. AMZN's customer-first approach in prior periods of uncertainty allowed the company to emerge with more market share, and it expects this approach will produce similar results in the current environment. AMZN's advertising business remained robust, with strength seen across the full funnel. AWS growth of 16.9% y/y was slightly below expectations; however, management noted demand remains strong and growth would have been higher if not for capacity constraints which are expected to ease in 2H25. Overall, we do not view AMZN's results and commentary as thesis changing and continue to believe its exposure to consumer staples, strong performance in its advertising business, and its cloud business with exposure to AI should drive market share gains across its respective segments regardless of the macro environment. We maintain our Market Outperform rating and increase our price target to $250, from $240, largely driven by peer group multiple expansion.”

You May Also Be Interested In

• Bernstein SocGen Group Starts Terawulf Inc. (WULF) at Outperform
• Old Dominion Freight Line (ODFL) PT Raised to $233 at TD Cowen
• Fuerte changes name to Talamore Mining, shares to trade as TALA