Amazon Stock Gains on Bullish Analyst Sentiment and Prime Deal Event
Amazon.com Inc (NASDAQ:AMZN) shares are climbing higher on Tuesday, driven by positive analyst sentiment and the launch of its Prime Big Deal Days event. Tigress Financial Partners reiterated its Buy rating and set a price target of $385, highlighting Amazon's integrated AI flywheel as a key growth driver. Analyst Ivan Feinseth noted that AI is accelerating growth across AWS, advertising, and Prime engagement, while operating margins continue to expand. He also pointed to a pivotal shift where Amazon's AI infrastructure is transitioning from a capital burden to a source of rising return on capital.
Tigress isn't the only firm bullish on Amazon. The stock carries an overall Buy rating on Wall Street, with an average price target of $333.08. Recent analyst moves include TD Cowen maintaining a Buy rating with a $350 target, Rosenblatt raising its target to $360, and Wells Fargo increasing its target to $338. Beyond AI, Tigress identifies AWS, advertising, live sports, and third-party sellers as major growth engines, with Amazon Advertising emerging as a high-margin opportunity.
Amazon's Prime Big Deal Days event kicked off at 3:01 a.m. ET Tuesday and runs through October 7, offering exclusive deals across over 35 categories. Prime members can access fast, free delivery on millions of deals, with new offers dropping three times a day. Features like Alexa for Shopping help users find deals based on their preferences and shopping history.
As of publication, Amazon's shares were up 1.63% at $255.51, reflecting investor optimism amid these developments.