Amazon Stock (AMZN) Gets Price Target Hike as Top Analyst Sees Strong Q2 Beat
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Blackledge ranks 308 out of more than 9,700 analysts on TipRanks. He has a success rate of 60%, with an average return per rating of 13.60% over a one-year period.
Top Analyst Expects a Beat on Revenue and Profit in Q2
Blackledge said he believes Amazon's Q2 results will come in ahead of Wall Street estimates. His forecasts for both revenue and operating income are slightly above consensus by about 1% and 10%, respectively.
He highlighted ongoing growth in Amazon's cloud unit, Amazon Web Services (AWS), which he believes is starting to regain momentum after a slower period. Alongside cloud, he pointed to solid gains in the advertising business and stable performance in Amazon's core e-commerce unit, which continues to see steady consumer demand.
To add context, in Q1 2025, AWS brought in $29.3 billion in revenue — a 17% jump from a year ago — and delivered $11.5 billion in operating income. Those results underline the unit's importance as Amazon's main profit driver.
Solid Outlook for Q3 and Beyond
Looking ahead, Blackledge expects Amazon to issue a strong Q3 guidance. He expects Amazon's Q3 numbers to beat market views by 1.1% on sales and 6% on profit, driven by a pickup in AWS growth and solid performance in advertising and e-commerce.
He also raised his longer-term outlook for sales and profit, reflecting more confidence in Amazon's ability to grow its key business areas and improve margins over time.
Is Amazon Stock a Buy, Hold, or Sell?
Overall, Wall Street is bullish on Amazon stock due to its strong position in the e-commerce and cloud markets. Amazon scores a Strong Buy consensus rating on TipRanks, based on 47 Buys versus just one Hold recommendation. The average AMZN stock price target of $246.60 indicates 12.42% upside potential from current levels.
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