Citizens JMP analyst Andrew Boone reiterated a Market Outperform rating and $285.00 price target on Amazon.com (NASDAQ: AMZN).

The analyst commented, “Amazon (AMZN) reported good results as 2Q25 revenue came in 3% ($5.5B) above consensus while 3Q25 revenue guidance at the midpoint was 2% above consensus. We acknowledge heightened expectations into earnings given cloud accelerations at GCP (GOOGL, MO, $225 PT) and Microsoft Azure (MSFT, NC), while advertising results have broadly been healthy, with Meta (META, MO, $900 PT) and Google both accelerating advertising revenue as Amazon’s better-than-expected results appear to have already been factored into shares. To be clear, this was a solid quarter as revenue ex-FX accelerated 2 points from 1Q25 to +12% Y/Y as AWS sustained +17% Y/Y growth ex-FX and advertising growth ex-FX accelerated and suggested share gains at +22% Y/Y. This as operating income came in 10% above the high end of guidance as the company highlighted that Amazon’s mature international markets’ profit margins are in line with North America’s. Taking a longer-term lens to results, Amazon’s core drivers appear intact as we believe it remains well positioned across eCommerce, Cloud, and advertising, and we maintain our Market Outperform rating and $285 price target.”

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Shares of Amazon.com closed at $234.11 yesterday.