AMZN AMAZON COM INC

Price Chart

Executive Summary

Wells Fargo upgraded Amazon (AMZN) from Equal-Weight to Overweight, raising its price target to $280 from $245, as one of 13 firms that acted on the stock in a cluster. The firm carries a 55% accuracy rate on 6,035 calls with an average return of 3.6%, lagging many peers who boast 67-100% accuracy, albeit often on smaller samples. Consensus is heavily bullish: 71 of 76 analysts (93%) rate it Buy or Strong Buy, with a mean target of $284 (7.1% upside) and a median of $285. Wells Fargo's new PT sits slightly below the mean, reflecting a relatively cautious stance within the bullish chorus. Over the past 30 days, no other upgrades or downgrades were recorded, but EPS revisions are mixed — current-quarter estimates have ticked up ($1.65 to $1.65 over 7 days) while next-quarter estimates have dipped ($1.78 to $1.77). Insider selling remains persistent, with CEO Jassy unloading $7.9M and other executives selling $5M+ in April, yet institutional flows show massive new positions (Norges Bank $32.9B, Renaissance $205M) and a 24% short interest ratio that could fuel a squeeze. The upgrade adds incremental positive weight to an already crowded bullish consensus, but the mediocre track record of the firm and ongoing insider selling temper conviction.

Impact Score

Consensus & Targets

Of 76 analysts covering AMZN, 21 rate it Strong Buy (27.6%), 50 rate it Buy (65.8%), and 5 rate it Hold (6.6%), with zero Sell or Strong Sell ratings. The consensus is overwhelmingly bullish at 93% Buy/Strong Buy, reflecting broad confidence in the company's outlook.

Current price is $265.06. The mean price target across 64 analysts is $283.98 (7.1% upside), median $285 (7.5% upside), high $360 (35.8% upside), and low $175 (34% downside). Wells Fargo's $280 PT is 1.4% below the mean and 1.8% below the median, placing it on the conservative side of the bullish consensus.

Recent Analyst Activity

Over the past 30 days, there have been 0 upgrades and 0 downgrades for AMZN, but the analyst cluster on the trigger date (13 firms) implies a strong wave of positive revisions. EPS revision trends: current quarter (Q2 2026) saw 5 upward and 0 downward revisions in the past 7 days, with the average rising to $1.65 from $1.65. Next quarter (Q3 2026) saw 2 upward and 0 downward revisions in 7 days but 4 up and 8 down over 30 days, causing the estimate to slip from $1.79 to $1.77. Full-year 2026 estimates are stable at $7.74, while 2027 have been bumped slightly higher ($9.45 to $9.54). Overall, near-term estimates are being revised modestly higher, but forward quarters show some downward pressure.

Firm Track Record — Wells Fargo

Wells Fargo accuracy: 55% on 6035 calls | avg return: 3.6%

Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.

Wells Fargo has a 55% accuracy rate on 6,035 calls with an average return of 3.6%, placing it below the peer average. Among 15 firms tracked, the top performers are WestPark Capital, Susquehanna, and MoffettNathanson (all 100% accuracy, but on 2-3 calls). The most consistent large-sample firm is Truist Securities (80% on 10 calls) and Stifel (73% on 11 calls). Wells Fargo's accuracy is the lowest in this comparison group.

Earnings Estimates

Next earnings: Jul 29, 2026

Cross-Platform Signals

Insider trading is decidedly bearish: five sells in the past 60 days totaling ~$14.3M, including CEO Jassy ($7.9M) and Director Herrington ($5M+). Congressional activity is mixed: Democrat buys (Fetterman, Khanna) vs. Republican sells (McCaul, Alford). Institutional flows show a dramatic divergence: Norges Bank opened a massive new $32.9B position, Renaissance Technologies added $205M, and Fund 1 doubled its stake (+168%), while Berkshire Hathaway nearly exited (-77.2%). Short interest remains elevated at 24% (3.27M shares short, ratio of 24.0%). The analyst upgrade converges with the heavy institutional buying but diverges from insider selling and high short interest, creating a mixed signal.

Documents Analyzed

Report based on filing metadata.

US Market Status