TLDR
- Amazon stock closed at $250.56, just 1.4% below its all-time record closing high of $254.
- The stock has risen 20% in April and closed higher in nine of the last 10 trading sessions.
- Truist raised its price target to $285, projecting 25% AWS revenue growth in Q1.
- TD Cowen’s John Blackledge reiterated a Buy with a $300 price target.
- Amazon agreed to acquire Globalstar for ~$12 billion and signed a satellite connectivity deal with Apple.
Amazon has been quietly putting together one of its strongest stretches in months. The stock closed at $250.56 on Friday — its highest level since November 3, 2025 — and is now just 1.4% below its all-time record close of $254.
The run has been steady rather than flashy. AMZN has closed higher in nine of the last 10 sessions and is up 20% in April alone. Year-to-date, the stock has gained around 8.6%.
With Q1 earnings due on April 29, Wall Street’s attention is firmly on Amazon. Consensus estimates point to EPS of $1.63 — a modest improvement from $1.59 a year ago — and total revenue of roughly $177 billion, representing about 14% year-over-year growth.
Truist analyst Youssef Squali raised his price target on Friday to $285, up from $280, while maintaining a Buy rating. He is forecasting AWS revenue growth of 25% in Q1, an acceleration from 23% in Q4 2024, driven by an expanding set of AI partnerships including OpenAI and Anthropic.
Squali also expects North America marketplace sales to grow around 10% year-over-year, describing macro headwinds like higher fuel costs as “manageable” if they prove short-lived.
Jim Cramer weighed in this weekend, calling Amazon “ascendant” and contrasting it with Microsoft, which he described as what “people are saying a chronic underperformer.” He suggested Amazon was the better buy right now given its growth trajectory versus slowing revenue concerns at Microsoft.
Analysts Set Sights on $300
TD Cowen’s John Blackledge, a 5-star analyst, reiterated a Buy rating and a $300 price target — about 20% above Friday’s close. He expects Q1 revenue to come in slightly above Street estimates, with operating income running about 4% ahead of consensus.
Blackledge points to high-margin advertising revenue and AWS as the key earnings drivers, along with continued gains in fulfillment efficiency.
For Q2 2026, his estimates sit 1.5% above Wall Street on revenue and 5% above on operating income — suggesting he sees further AWS acceleration ahead.
Across the Street, Amazon holds a Strong Buy consensus based on 42 Buy ratings and just 3 Holds. The average price target stands at $284.77, implying roughly 14% upside from current levels.
In Q4 2025, AWS grew revenue 24% year-over-year. CEO Andy Jassy called it the unit’s “fastest growth in 13 quarters” — a stat analysts are leaning on as they build their Q1 models.
Amazon Makes a Move in Satellite
Beyond earnings, Amazon made a major strategic play this week. On Tuesday, the company announced an agreement to acquire Globalstar for the equivalent of $90 per share — valuing the satellite firm at just under $12 billion.
The deal positions Amazon to build its own space-based broadband network, entering a market currently led by Elon Musk’s Starlink.
Amazon also signed an agreement with Apple to provide satellite connectivity for current and future iPhone and Apple Watch features. That arrangement was made possible through an existing Globalstar deal Apple already had in place.
The average Wall Street price target of $284.77 represents about 14% upside from AMZN’s most recent close of $250.56.
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