On August 3, Amazon.com rose 3.1% in regular trading, trading at $282.66/share with turnover of $23.47 billion. The stock extended gains following a wave of analyst price target increases.

Multiple Wall Street firms raised their price targets on Amazon.com during the session: Barclays lifted its target to $365, Wells Fargo to $328, Jefferies to $330 citing AWS revenue accelerating for the fifth consecutive quarter, and Roth MKM to $325 from $300 while maintaining a Buy rating. The consensus mean price target now stands at $325.04 according to FactSet. UBS also highlighted AWS momentum driven by strong AI demand and $496 billion in backlog, supporting expectations for above 40% growth next year.

The upgrades follow Amazon.com's blockbuster Q2 results reported on July 30, where AWS revenue reached $42.2 billion, up 37% year-over-year and exceeding the $40.6 billion consensus. Total revenue rose 20% to $200.6 billion. The company also raised its full-year capital expenditure budget to $220 billion from $200 billion, primarily to fund AI infrastructure expansion.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)