Amazon Stock Predicted to Soar 45.94% in Next 12 Months

Despite Amazon's recent decline in stock price, Wall Street analysts remain optimistic about the company's future. Scott Devitt from Rosenblatt Securities recently issued a 'Buy' recommendation for AMZN shares and increased his 12-month price target to $360, representing a 45.94% predicted upside.

Devitt rejects the notion that agentic artificial intelligence will disrupt Amazon's advertising model, saying the company can navigate any potential disruption with minimal impact. This view is in line with the overall sentiment on Wall Street, where Amazon stock is considered a 'Strong Buy' by institutional experts.

The average 12-month price target for AMZN shares is $331.82, representing a 34.52% rally within the timeframe. However, not all analysts are bullish, as Rothschild & Co Redburn's Alexander Haissl has a 'Hold' recommendation and a $230 12-month price target.

Amazon's stock performance has been mixed, with shares wiping out most of their post-earnings gains and suffering a 13.15% decline between early August and September 29.