Amazon Stock Soars 4% on Strong AWS Performance, Price Target Lifted

Amazon shares surged on Friday, August 30, 2026, closing at $266.43 after rising 3.97% throughout the day.

The significant increase in Amazon's stock value added approximately $110 billion to its market capitalization, bringing it to around $2.87 trillion.

Evercore ISI lifted their price target for Amazon to $355, indicating potential upside of 33.2%, with a Buy rating maintained.

The analyst's revised estimate is based on stronger performance from Amazon Web Services (AWS), which reported a 37% increase in cloud revenue for the second quarter to $42.2 billion and operating income of $16.6 billion, accounting for 60% of Amazon's total consolidated operating profit.