Here are the latest stock price forecasts for S&P 500 giant Amazon.

S&P 500 Index power plant Amazon‘s(NASDAQ: AMZN) had a great run. The stock is up about 29% year to date. As a long-term investor in a technology company (by far the largest individual stock in my portfolio), I’m very pleased with these results.

Is there room for further growth in stock prices? Wall Street analysts seem to think so. Here are their latest stock price forecasts.

Brilliant third quarter earnings

Before focusing on stock price targets, it’s worth touching on Amazon’s recent third-quarter earnings. That’s because they were excellent.

I’ve been saying for a long time that Amazon’s earnings would explode at some point, and that was evident in the third quarter numbers. While net sales increased just 11% year over year to $159 billion, operating income jumped from $11.2 billion to $17.4 billion—a 55% increase. At the same time, earnings per share amounted to $1.43 compared to $0.94 a year earlier, an increase of 52%.

Breaking down sales figures, the all-important cloud computing division (AWS) posted 19% growth. Another 19% of growth came from digital advertising (Amazon is now the third largest player in digital advertising after Meta And Alphabet).

Looking ahead, the company told investors that net sales for the quarter are expected to be $181.5 billion to $188.5 billion, up 7% to 11%. Operating income is expected to be $16 billion to $20 billion, down from $13.2 billion in the fourth quarter of 2023.

Overall, many people liked the results.

New stock price targets

So it’s no surprise that many Wall Street analysts have raised their price targets for the stock in recent days. I have listed their new goals in the table below.

Broker	New goal	Old goal
Raymond James	US$230	US$205
Morgan Stanley	US$230	US$210
Baird	US$220	US$213
Benchmark	US$215	200 US dollars
BMO	US$236	US$230
BofA Global Research	US$230	US$210
City	US$252	US$245
Deutsche Bank	US$232	US$225
HSBC	US$225	US$220
Jeffries	US$235	US$225
JP Morgan	US$250	US$230
MoffettNathanson	US$235	US$229
Oppenheimer	US$230	US$220
Piper Sandler	US$225	US$215
RBC	US$225	US$215
Rosenblatt Securities	US$236	US$221
Roth MKM	US$220	US$215
Scotiabank	US$246	US$245
Stiefel	US$245	US$224
Susquehanna	US$230	US$220
Telsi Advisory Group	US$235	US$215
Truist Securities	US$270	US$265
UBS	US$230	US$223
Wedbush	US$250	US$225
Oppenheimer	US$230	US$220

As you can see, many brokers have raised their price targets. Of the brokers listed, Truist has the highest target at $270. The average price target in the table is $234, which is 19% above the current stock price.

I’m looking for 250 dollars

My own target price for Amazon stock is $250. I believe this could happen within the next 12 months or so.

My dissertation revolves around three key factors. Firstly, this is income growth. Next year, earnings per share (EPS) are forecast to rise 20% to $6.00. I think there are revenue opportunities in 2025. forecast modernization, however.

The second is assessment. Currently price-earnings ratio The P/E ratio for 2025 EPS is just 32. This is pretty much an all-time low for Amazon, so I see room for a higher valuation.

Third, the stock has underperformed other major technology stocks in recent years. So it might be possible to catch up a little. It’s worth noting here that, compared to other big tech stocks, Amazon’s stock is partly owned by professional fund managers.

To sum it up, I think the stock has room to rise as earnings improve and valuation improves.

Of course, there are no guarantees. Amazon may have to spend more than expected on artificial intelligence infrastructure, which could hurt its earnings. Another risk is a slowdown in consumer spending and slower growth in its e-commerce division.

However, in the medium term, I see potential for significant growth.