Analysts on Wall Street have maintained buy ratings on Amazon (AMZN) stock, despite maintaining their price forecasts for the stock. AMZN shares have climbed a modest 7% in the last month, marking steady gains without a significant spike. The company reported better-than-expected earnings for Q1, which helped AMZN stock climb at the end of April. However, other updates are fueling the buzz around Amazon on Wall Street.
Amazon (AMZN) Stock Catalysts: AWS, AI, and More
AWS grew 28% year-over-year to $37.6 billion in the first quarter of 2026, well ahead of the 25% analysts had forecasted. Consolidated net sales reached $181.5 billion, while second-quarter guidance came in at $194 to $199 billion in net sales, comfortably above the $188.9 billion consensus.
Additionally, Management also reaffirmed its $200 billion AI capital investment target for the year, offering investors a degree of certainty amid an industrywide escalation in data center spending. The combination of AWS revenue and solidification of AI targets has soothed investors, leading to Wall Street reaffirming its forecasts for AMZN stock.
On April 30, 2026, TD Cowen raised its price target to $350 from $300 and lifted its revenue forecasts post-earnings; Goldman Sachs moved to $325 from $275, with the analyst flagging a sharply rising backlog as the more significant indicator of where AWS growth is headed; Raymond James went to $280 from $225, making the case that the AI partnership structure and expanding agentic capabilities position AWS as the platform enterprises will build on for years.
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At press time, AMZN is trading at $268 and is riding a green streak over the last several days. With Wall Street carrying a consensus buy rating, AMZN could have all the potential to continue its rally through the remainder of Q2 2026.