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Amazon Price Target Hikes to $355 as Analyst Sees 38% Upside

Guavy AI Editorial Team
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AMZN WMT
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Wall Street analyst Mark Mahaney has raised Amazon's (NASDAQ: AMZN) price target to $355 from $315, representing a 12.64% increase.

The new price target suggests a potential 38.53% upside over the next 12 months for Amazon stock, which currently trades at $256.26.

Mahaney, of Evercore ISI, reiterated his 'Buy' rating for Amazon and cited strong survey results from the company's 14th Annual U.S. Online Retail survey.

The survey showed that 57% of Alexa AI users purchased products they did not know about before, while Amazon's market penetration fell slightly to 92%, but remains 34 percentage points ahead of Walmart (NASDAQ: WMT).

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