Social media platform X is on the hunt for new partners to help it attract small and mid-sized advertisers, according to a recent report from The Wall Street Journal. One potential partnership includes Amazon (NASDAQ:AMZN), where X’s ads could be integrated into Amazon’s ad-buying software.
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This move could open the door to a vast pool of small and medium-sized businesses that operate on Amazon’s marketplace. However, sources suggest that these discussions are still in the early stages and may not necessarily lead to an agreement. Similarly, X has been in talks with digital advertising platform PubMatic (NASDAQ:PUBM) about sharing some of its ad inventory.
This comes after a significant advertiser exodus, triggered partly by Elon Musk‘s controversial remarks on the platform, including his response to an antisemitic post and his public spat with Disney’s (NYSE:DIS) Bob Iger.
What is a Good Price for AMZN Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 42 Buys assigned in the past three months, as indicated by the graphic below. After a 65% rally in its share price over the past year, the average AMZN price target of $177 per share implies 20.1% upside potential.
