TLDR
- Amazon stock closed at its highest level since November 2025, sitting just 1.4% below its all-time record closing high of $254.
- Truist raised its price target to $285, expecting 25% AWS revenue growth in Q1 driven by AI workloads.
- TD Cowen’s John Blackledge reiterated a Buy with a $300 target, expecting Q1 results to beat consensus.
- Wall Street expects Q1 EPS of $1.63 and revenue of ~$177.15 billion, up 14% year-over-year.
- Amazon agreed to acquire Globalstar for ~$12 billion and signed a satellite connectivity deal with Apple.
Amazon has been on a quiet tear. The stock has closed higher in nine of the past 10 trading sessions and is up 20% in April alone. Year-to-date, it’s gained 8.6%, and it’s now just a hair away from its all-time record close.
On Friday, AMZN edged up 0.3% to $250.56, its highest close since November 3, 2025. The record closing high sits at $254 — less than 1.4% away.
With Q1 earnings set for April 29, Wall Street is getting increasingly bullish. Consensus estimates call for EPS of $1.63, up slightly from $1.59 a year ago, with total revenue forecast to grow 14% to around $177 billion.
Truist analyst Youssef Squali raised his price target Friday to $285 from $280, keeping a Buy rating. He’s projecting AWS revenue growth of 25% in Q1, up from 23% in Q4. That acceleration, he says, is being driven by a growing list of AI partnerships — including OpenAI and Anthropic.
Squali also expects North America marketplace sales to grow around 10% year-over-year, calling macro headwinds like higher fuel costs “manageable” — assuming they’re short-lived.
Analysts Bullish Ahead of April 29
TD Cowen’s John Blackledge, a 5-star analyst, separately reiterated a Buy with a $300 price target — implying roughly 20% upside from current levels. He expects Q1 revenue to come in slightly above Street estimates, with operating income about 4% above consensus.
Blackledge points to high-margin advertising and AWS as the main earnings drivers, alongside continued gains in fulfillment efficiency.
For Q2 2026, his revenue and operating income estimates sit 1.5% and 5% above Wall Street consensus, respectively, pointing to further AWS acceleration.
Wall Street overall carries a Strong Buy consensus on AMZN, based on 42 Buy ratings and just 3 Holds. The average price target sits at $284.77 — about 14% above current levels.
In Q4 2025, AWS grew revenue 24% year-over-year. CEO Andy Jassy called it the unit’s “fastest growth in 13 quarters.” Analysts now expect that momentum to continue into Q1.
Amazon’s Satellite Push
Away from earnings, Amazon has been busy doing deals. On Tuesday, the company announced it would acquire Globalstar for the equivalent of $90 per share, valuing the satellite firm at just under $12 billion.
The move positions Amazon to build its own space-based broadband network — a market currently dominated by Elon Musk’s Starlink.
Amazon also signed an agreement with Apple to provide satellite connectivity for current and future iPhone and Apple Watch features. That deal was made possible through an existing Globalstar agreement Apple already had in place.
The S&P 500 rose 1.2% on Friday, and the Dow gained 1.8%. AMZN’s 0.3% move that day was modest by comparison, but the stock’s longer-term trajectory heading into earnings has analysts paying close attention.
The average Wall Street price target of $284.77 currently represents about 14% upside from the stock’s most recent close of $250.56.
🚨 Our April Stock Picks Are Live!
A new month means new opportunities. Our analysts have just released their top stock picks for April, highlighting companies with strong momentum that rank highly on our KO Score algorithm. We’re also now sharing trade ideas for both long-term and short-term investors, giving you more ways to spot potential opportunities in the market.
Sign up to Knockout Stocks today and get 50% off to unlock the full list and see which stocks made the cut.
Use coupon code Special50 for your exclusive discount!
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
