Evercore Sees Buying Opportunity in Amazon Stock Amid Range-Bound Trading

Amazon stock (NASDAQ: AMZN) has been range-bound this week, with little to no price movement. The e-commerce giant's share price opened Friday's trading session at $256 after falling by more than 1.5% the previous day.

The wild swings are a rare occurrence in Q3 of 2026, testing investors' patience. In response to this market behavior, equity research firm Evercore ISI has reiterated its Amazon stock price prediction.

According to Mark Mahaney, Senior Managing Director and head of Evercore's Internet Research team, the current price grind presents a buying opportunity for investors. He urged institutional clients to begin their accumulation phase on AMZN in a note sent to clients on Thursday (August 27, 2026).

The analyst predicts that Amazon stock could reach a price target of $355, representing a potential profit of nearly $100 per share if traders take an entry position at today's price. This would translate to an uptick and return on investment (ROI) of approximately 39% from the current price.