- Amazon's Zoox is expanding autonomous vehicle testing to Los Angeles.
- Analysts project a significant upside for Amazon's stock price over the next year.
- Amazon holds an "Outperform" rating based on average brokerage recommendations.
Amazon.com Inc. (AMZN, Financial) is making headlines as its autonomous vehicle division, Zoox, expands its operations into the bustling city of Los Angeles. This marks Zoox's sixth testing location, as the company initially introduces a limited fleet equipped with safety drivers. The initiative aims to accumulate valuable local data, laying the groundwork for transitioning to fully autonomous operations by the end of the year.
Wall Street Analysts Forecast
With insights from 67 analysts, Amazon's stock is projected to reach an average price target of $264.58 within the next year. Estimates range between a high of $306.00 and a low of $203.00, suggesting a remarkable potential upside of 51.35% from its current trading price of $174.82. Investors seeking more comprehensive forecast data should visit the Amazon.com Inc (AMZN, Financial) Forecast page.
Brokerage Recommendations
Amazon maintains an "Outperform" recommendation with an average broker rating of 1.8, based on evaluations from 73 brokerage firms. This rating aligns with a scale where 1 indicates a Strong Buy, while 5 signals a Sell. The favorable position reflects confidence in Amazon's continued market performance.
GuruFocus Valuation Estimates
According to GuruFocus, Amazon's estimated GF Value stands at $184.70, a figure indicating a modest upside of 5.65% from its current price of $174.815. The GF Value is derived from Amazon's past trading multiples, historical business growth, and future performance projections. Further detailed information is accessible on the Amazon.com Inc (AMZN, Financial) Summary page.
