E-commerce behemoth Amazon (NASDAQ:AMZN) recently bumped up its free shipping threshold from $25 to $35 for non-Prime members in selected areas, putting it on par with Walmart’s (NYSE:WMT) standard for its Walmart+ subscribers. Kristina Pressentin, Amazon’s spokesperson, commented on this move, saying they constantly review and adjust their services based on their evaluations. This shift might be a nudge to get more people on board with Amazon’s $139/year Prime service, which offers its members free delivery perks on a massive array of items.
In other developments, an analysis from Goldman Sachs that looked at hedge funds and mutual funds revealed that hedge funds are overweight AMZN stock, whereas mutual funds are underweight. However, both types of funds were underweight WMT stock.
Is Amazon a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 40 Buys, one Hold, and zero Sells assigned in the past three months, as indicated by the graphic above. Furthermore, the average price target of $175.63 per share implies 32% upside potential.
