Amazon.com Inc. is entering its fourth-quarter earnings announcement with a slate of analyst expectations and reiterations from major brokerages. Monness, Crespi, Hardt has reiterated a Buy rating on the stock and maintained a $300.00 price target ahead of the company’s results, while a range of analyst price targets spans from $230 to $360, according to aggregated analyst data. The consensus view embedded in those targets suggests the shares are trading below a defined fair value benchmark.
Analysts anticipate Amazon will report fourth-quarter revenue of about $211.30 billion, which would represent roughly 13% growth versus the year-ago quarter and mirror the revenue cadence seen in the prior quarter. Monness has projected fourth-quarter earnings per share of $1.98. The firm also expects operating income to land near $25.64 billion, implying an operating margin of approximately 12.1% for the period.
On a multi-year basis Amazon’s top-line momentum has remained notable. Analyst-sourced metrics show a five-year compound annual growth rate for revenue of 18%, and trailing 12-month revenue is reported at $691.33 billion.
AWS spotlight
Amazon Web Services will be a focal point of the release, particularly after recent cloud updates from rival providers. Monness forecasts AWS fourth-quarter revenue of $34.72 billion, a 21% year-over-year increase. That would mark a modest acceleration from the roughly 20% growth recorded in the third quarter and the 19% pace in the year-ago period.
Cost actions and AI investments
The company has announced plans to reduce its workforce by about 16,000 roles as part of ongoing efficiency efforts. In the AI arena, Amazon disclosed a multi-year strategic partnership with OpenAI in November that included a $38 billion commitment over seven years. Separately, there have been reports indicating Amazon may expand that investment up to $50 billion, a development that has drawn investor attention to the company’s AI strategy.
Analyst sentiment and price target dispersion
Monness is not the only firm maintaining a constructive view. Benchmark has reiterated a Buy rating with a $295 target, noting optimism even though the share price has not returned to prior highs after AWS growth exceeded 20% in the third quarter. Wedbush continues to rate the stock Outperform with a $340 target and expects AWS to meaningfully influence 2026 results. Citizens raised its target to $315, citing higher revenue expectations for Anthropic as a tailwind for the cloud business. Jefferies has maintained a Buy rating and a $300 target, describing the valuation as too low given signs of AWS re-acceleration. Evercore ISI highlighted improvements in grocery operations and reiterated an Outperform rating with a $335 price target, pointing to progress in delivery and physical presence.
These varied price targets and ratings reflect a range of views on how the cloud business, retail operations and AI investments will drive future performance.
Market performance and valuation metrics
The stock’s performance has lagged peers and the broader technology sector, with a 5% gain in 2025 reported year-to-date for that calendar year. For the first quarter of 2026, Monness projects revenues of $180.51 billion, a 16% year-over-year increase, and EPS of $1.73.
Year-to-date figures show a modest share price increase of 3.67% and a reported price-to-earnings ratio of 33.9. Analyst commentary included notes that the stock’s P/E is low relative to near-term earnings growth projections, according to aggregated research insights available to subscribers of professional research services.
What to watch in the report
Investors will be watching top-line growth consistency, AWS revenue trajectory and operating margin outcomes tied to the announced cost reductions. The mix of cloud momentum, retail execution including grocery operations, and the scale of AI-related commitments are central themes shaping analyst expectations heading into the quarterly report.
With several brokerages reiterating positive ratings and a spread of price targets, the market is balancing optimism about cloud re-acceleration and grocery strategy against the uncertainty inherent in execution and large-scale AI investments.