AMZN AMAZON COM INC

Price Chart

Executive Summary

Wells Fargo upgraded AMZN from Equal-Weight to Overweight on September 24, 2025, raising the price target to $280 from $245, implying a 3.5% upside from the current $270.64. The upgrade is part of a 13-firm cluster action on AMZN, signaling broad analyst attention. Wells Fargo has a 55% accuracy rate on 6,036 calls with an average return of 3.6%, placing it near the middle of the peer group. Consensus is overwhelmingly bullish: 72 of 78 analysts rate Buy or Strong Buy, with only 6 Holds and zero Sells. The mean price target is $312.79, median $319.50, high $370, low $207 — Wells Fargo's $280 is below consensus, suggesting a more cautious near-term view. Momentum is neutral with zero upgrades or downgrades in the past 30 days, but EPS revisions are strongly positive: 47 upward revisions in the last 30 days for the current fiscal year versus just 1 downward. Insider selling is notable — five C-suite executives sold a total of ~$5.5M in late May 2026, including EVP David Zapolsky ($2.5M) and CFO Matthew Garman ($1.1M). Congressional buying is modest but consistent — five buys from Democrats between March and April 2026. Institutional activity is mixed: Norges Bank initiated a massive $32.9B position, while Berkshire Hathaway nearly exited (down 77.2%). Short interest is elevated at 24.0% of float. The bottom line: Wells Fargo's upgrade is a modest positive from a mid-tier firm, but the below-consensus PT and insider selling temper enthusiasm — traders should watch for confirmation from higher-accuracy firms.

Impact Score

Consensus & Targets

Consensus is heavily bullish: 22 Strong Buy, 50 Buy, 6 Hold, 0 Sell, 0 Strong Sell out of 78 analysts. That's 92% Buy/Strong Buy, 8% Hold, 0% Sell. Direction is firmly positive, with no bearish dissent.

Current price: $270.64. Mean target: $312.79 (implied upside 15.6%). Median: $319.50. High: $370 (36.7% upside). Low: $207 (23.5% downside). Wells Fargo's $280 is 10.5% below the mean and 12.4% below the median, making it one of the more conservative targets in the consensus.

Recent Analyst Activity

Zero upgrades and zero downgrades in the past 30 days, indicating no recent directional shift. EPS revisions are strongly positive: 47 upward revisions in the last 30 days for the current fiscal year (vs 1 down), and 42 upward for next year (vs 5 down). Current quarter EPS estimates rose from $1.77 to $1.82 over 30 days. Estimates are being revised higher across all timeframes.

Firm Track Record — Wells Fargo

Wells Fargo accuracy: 55% on 6036 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 6,036 scored calls with an average return of 3.6%, placing it in the middle of the peer group. Top-tier firms include WestPark Capital (100% on 3 calls, avg return 13.8%), Susquehanna (100% on 3, 15.6%), and Goldman Sachs (86% on 7, 10.2%). Lower-tier firms include Benchmark (67% on 12, 3.8%) and Baird (67% on 6, 3.5%). Wells Fargo's accuracy is below the top-tier average but above the lowest.

Earnings Estimates

Next earnings: Jul 29, 2026

Cross-Platform Signals

Insider selling is a bearish contra-signal: five C-suite executives sold ~$5.5M in late May 2026, including EVP David Zapolsky ($2.5M) and CFO Matthew Garman ($1.1M). Congressional buying is modestly bullish — five buys from Democrats totaling $1K-$50K each. Institutional activity is mixed: Norges Bank initiated a massive $32.9B position (bullish), while Berkshire Hathaway nearly exited (down 77.2%). Short interest is elevated at 24.0% of float, suggesting bearish positioning. The insider selling diverges from the bullish analyst signal, reducing conviction.

Documents Analyzed

Report based on filing metadata.

US Market Status