Susquehanna has reiterated a Positive rating on Amazon.com (NASDAQ:AMZN) and set a $300.00 price target, citing ongoing strength in Amazon Web Services (AWS) as a primary driver of the firm’s outlook. The $300 target aligns with the broader Wall Street picture, where analysts collectively carry a Strong Buy stance and maintain price targets spanning $230 to $360, according to available consensus data.
The research note characterized Amazon’s fourth quarter as "generally solid," highlighting continued acceleration in AWS growth. Susquehanna framed the company as a "long-term secular grower," pointing to its multi-pronged business model. Over the trailing twelve months, Amazon’s revenue expanded by 12.38% to $716.92 billion, while reported EBITDA stood at $145.73 billion.
Looking at near-term guidance, Susquehanna described Amazon’s first-quarter outlook as robust on revenue but slightly below expectations on the profitability line. The company signaled plans to step up investments across different segments of the business, and Susquehanna’s review of Amazon’s financial projections indicated a capital expenditure trajectory that came in ahead of prior expectations.
Susquehanna’s positive stance rests on the combined strength of three core pillars: e-commerce, cloud/AI services, and advertising. The firm’s assessment emphasizes that AWS’s growth profile remains a central element supporting the bullish thesis.
Recent quarterly detail and analyst reactions
In related reporting on Amazon’s fourth-quarter 2025 results, the company posted revenue that slightly exceeded the high-end of its guidance and operating income that was roughly 1% above consensus estimates, despite recording $2.4 billion in one-time charges. Market commentary since the release has varied across brokerages.
- Canaccord Genuity reiterated a Buy rating and underscored AWS’s growth acceleration, which the firm measured at approximately 400 basis points quarter-over-quarter.
- BMO Capital raised its price target to $310, pointing to AWS as a standout performer with growth ahead of expectations.
- DA Davidson diverged from that group and downgraded Amazon to Neutral, citing concerns about AWS’s competitive edge within cloud computing.
- Goldman Sachs adjusted its price target to $280 while maintaining a Buy rating and referenced a sizable investment cycle in cloud computing and e-commerce.
- Citizens analyst Andrew Boone maintained a Market Outperform rating with a $315 target despite describing the quarter as mixed in places.
These assorted analyst positions illustrate differing interpretations of the same quarter: several firms emphasize AWS momentum and raise targets or reaffirm buys, while others express caution regarding competitive dynamics and margin implications.
Implications for investors and markets
Susquehanna’s reaffirmation of a Positive rating, together with elevated capex expectations and continued AWS acceleration, reinforces a constructive case for Amazon centered on its e-commerce scale, cloud and AI service growth, and advertising business. At the same time, the range of analyst reactions highlights that market views on near-term profitability and AWS’s competitive position are not uniform.
For investors, the key takeaways are the combination of continued revenue expansion and elevated investment plans, balanced against margin and competition considerations called out by some brokers.