E-commerce giant Amazon (AMZN) gears up to report its Q3 earnings, scheduled for October 30. Notably, top analysts remain optimistic about AMZN stock despite recent market volatility. Ahead of the Q3 earnings report, five-star-rated analyst Mark Kelley at Stifel Nicolaus has raised his price target on the stock, while KeyBanc has initiated coverage with a Buy rating. Let’s dig deeper.
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Overall, Wall Street expects Amazon to report earnings per share (EPS) of $1.57 for Q3 2025, reflecting 9.7% year-over-year growth. Meanwhile, revenue is projected to increase 12% to $177.85 billion compared with Q3 2024.
KeyBanc Sees Upside for AMZN with $300 Target
Yesterday, KeyBanc’s top-rated analyst Justin Patterson assigned a Buy rating to AMZN stock with a price target of $300. This implies an upside of over 35% from the current trading level.
Patterson noted that investors are being too negative about Amazon’s cloud business, making the stock an attractive buying opportunity. For context, AMZN stock is up just 0.8% year-to-date, marking the weakest performance among the “Magnificent Seven” stocks.
He expects cloud growth to improve into 2026. At the same time, Patterson believes Amazon’s advertising business is helping boost retail profits, and grocery sales could become more important in the coming years. He also pointed out that Amazon’s current stock valuation is much lower than its historical average.
Stifel Lifts Amazon’s Price Target
At the same time, Kelley raised his price target on AMZN stock from $260 to $269, predicting an upside of over 20% from the current level. He also reaffirmed his Buy rating.
Kelley noted that management’s Q2 commentary—that average sales prices hadn’t increased significantly—remained consistent in Q3, keeping estimates largely unchanged. He highlighted that stable consumer spending and the expansion of same-day grocery delivery for Prime members could provide additional upside for 2026.
What Is the Price Target for AMZN Stock?
According to TipRanks, AMZN stock has a Strong Buy consensus rating based on 41 Buys assigned in the last three months. At $269.03, the Amazon average share price target implies an upside of 21.68% from the current level.
