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Amazon Stock Price Drops After FTC Lawsuit Amid Continued Growth Expectations

Guavy AI Editorial Team
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AMZN
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A recent lawsuit filed by the Federal Trade Commission and 22 states against Amazon.com Inc (NASDAQ: AMZN) alleging $20 billion in overcharging through its advertising practices has led to a 2.5% drop in the company's stock price, closing at $259.77 on Monday.

Citi reaffirmed its 'Buy' rating on AMZN with a price target of $350, citing continued growth in advertising expenditure and increasing demand for AI solutions within Amazon Web Services (AWS).

Amazon's current Price-to-Sales ratio stands at 3.64, slightly above its 3-year median of 3.44, indicating the market's expectation of sustained revenue growth.

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