The stock of e-commerce giant Amazon (AMZN) has hit a record intraday high ahead of its upcoming earnings report, and as the stock market recovers from the DeepSeek rout on Jan. 27.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
AMZN stock gained 2.3% to trade at an all-time intraday high of $241.77, putting shares on track for a record close, according to market data. The rally has also lifted the market capitalization of Amazon’s stock to above $2.50 trillion for the first time ever.
The record high has been achieved on a split-adjusted basis. AMZN stock split on a 20-for-1 basis in June 2022. The latest gains come ahead of Amazon reporting its fourth-quarter 2024 financial results on Feb. 6, and comes as investors flood back into tech stocks after the scare caused by the launch of Chinese artificial intelligence (AI) app DeepSeek.
Analysts Remain Bullish
The record intraday high for AMZN stock also comes as analysts remain bullish on the shares and the company behind them. Wedbush Securities just reiterated a Buy-equivalent outperform rating on Amazon’s stock while raising their price target on the shares to $280 from $260. The new price target is about 15% higher than where AMZN stock currently trades.
“We think Amazon is positioned to outperform expectations again in 2025, and our full-year operating income estimate is 5% above consensus,” wrote Wedbush in a note to clients. The financial services firm isn’t the only Amazon bull. Morgan Stanley (MS) also just gave AMZN stock an outperform rating along with a $280 price target.
Amazon’s share price has risen 49% over the last 12 months.
Is AMZN Stock a Buy?
The stock of Amazon has a consensus Strong Buy rating among 50 Wall Street analysts. That rating is based on 49 Buy and one Hold recommendations issued in the last three months. The average price target on AMZN stock of $255.47 implies 8.52% upside from current levels.
