Wall Street Boosts Amazon Price Targets Ahead of Q2 Earnings

Wall Street is feeling confident about Amazon. Recently, analysts at KeyBanc and Goldman Sachs raised their price targets for the retail giant from $325 to $335. These adjustments arrive just ahead of the company's scheduled Q2 2026 earnings report on July 30.

Optimism is largely driven by strong previous results. Amazon beat earnings estimates in the first quarter with $181.52 billion in sales. Analysts expect this momentum to continue, with a focus on a projected 32 percent growth in Amazon Web Services. There is also a belief that the stock remains undervalued compared to competitors like Alphabet and Walmart.

Beyond cloud services, the company is gaining attention for its focus on artificial intelligence and data centers. A recent deal involving battery technology with Electrovaya has also helped boost investor sentiment. The stock saw a solid gain of over 3 percent on Wednesday, showing that traders are keeping a close eye on these developments as the earnings date approaches.