Insights

Analyst: Amazon still has a 70% upside potential over three years

The retail giant’s share price could nearly double by 2024, the firm claims.
The post Analyst: Amazon still has a 70% upside potential over three years appeared first on The Motley Fool Australia. –

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

bundles of US notes on top of each other

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Despite its stock value having climbed more than 65% over the past year, online retail and tech titan Amazon (NASDAQ: AMZN) still has a gigantic growth spurt coming, one major analyst claims. Brent Thil, an analyst with Jefferies Financial Group, said in a research note today Amazon is likely to see a 70% rise over the next three years, and he sees a “pathway to $5,700” for the company, The Fly reports.

The official Jefferies price target for Amazon remains $4,000, a much more modest 17% rise from current share value. Thil’s speculative valuation, $1,700 higher than this point, doesn’t depend on any one facet of Amazon’s operations or situation, but is based on a “sum of its parts” view. He did, however, single out Amazon Web Services, or AWS, saying it is Amazon’s “most valuable business and is positioned for continued strength.”

Benzinga reports CNBC’s Jim Cramer provided some additional commentary on Thil’s $5,700 prediction. Cramer, pointing to Jefferies’ $1.25 trillion valuation of AWS, described the cloud platform as “an undervalued asset buried within this company.” He remarked Prime Video and Amazon’s advertising are two other sources of strength, and summed up Amazon by saying “I think it is going to prove to be an excellent long-term value.”

Notably, a previous bullish Amazon forecast from Jefferies came true. In April 2019, Brent Thil predicted the company’s shares would reach $3,000 in two years, a roughly 65% upside compared to the $1,828 stock price at the time. Amazon’s current value of $3,400 vindicates Thil’s optimism and the company’s possible telehealth expansion shows it’s still working to keep up the momentum. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Rhian Hunt has no position in any of the stocks mentioned. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Analyst: Amazon still has a 70% upside potential over three years appeared first on The Motley Fool Australia.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!