Maxim Group Boosts Amazon Stock Price Prediction to $330

Amazon's stock price surge continues to impress investors, with the e-commerce giant opening Monday's trading session at $271 after rising over 15% on Friday.

The sudden price increase propelled Amazon to the top-performing equities list and placed it among the most performant assets in the Magnificent 7 list, making traders eager to accumulate shares.

According to Maxim Group, a leading independent investment bank, Amazon's stock target has been revised upwards by $15, with Tom Forte, Senior Consumer Internet Analyst, reiterating his buy rating and urging institutional clients to take entry positions in the company.

The new price prediction estimates Amazon's stock to reach a new target of $330, representing a hike from the previous target of $315, which could translate into a profit of $59 per share for traders who enter at the current price of $271.