Amazon Price Predictions: Where Will Amazon Stock Go in 2021?

Today is the first day of Amazon’s(NASDAQ:AMZN) Prime Day event, a two-day consumer event where you can shop the e-commerce platform for astoundingly good deals. Prime Day has been a holiday for the company for only the last six years, and its popularity has grown exponentially. And, as a huge driver of sales, shoppers aren’t the only ones walking away happy; AMZN investors are happy to see some healthy growth in their portfolios. So, what are Amazon (AMZN) price predictions looking like after this Prime Day?

In the hierarchy of corporation-manufactured holidays, Prime Day is the top dog. The two-day shopping fest allows consumers to get hundreds of products at discounts, and it is an important catalyst for AMZN stock.

Last year, Prime Day salesamounted to $10.4 billion, a 42.5% year-over-year increase from 2019. This year is supposed to be even bigger; the company is evenhosting a concert eventthrough Prime Video featuring some huge acts like Billie Eilish and H.E.R.

In late April, the companyrevealed its earningsfrom Q1 2021. The company saw a year-over-year sales increase of over $30 billion to $108.5 billion. Operating cash flow increased 69% to $67.2 billion over the last year as well, as compared to the $39.7 billion the company reported in 2020. Alongside these figures are pages and pages of highlights of the e-commerce giant’s other ventures, including the impressive growth of Amazon Prime Video and Amazon Web Services.

Amazon (AMZN) Price Predictions: Can AMZN Stock Reach Analysts’ Price Targets With Prime Day Catalyst?

Amazon is one of the biggest companies in the world; it’s constantly adding new initiatives to its business and readjusting its model to fit the needs of the consumer. As such, AMZN stock is a surefire bet for investors. But, where exactly is AMZN stock going in the near future? Let’s take a look at analysts’ Amazon (AMZN)price predictions:

• Michael Levine of Pivotal Research targets a price of $4,650 for AMZN stock.
• Doug Anmuth of JPMorgan Chase is predicting a $4,600 price target for Amazon.
• Wells Fargo analyst Brian Fitzgerald predicts a $4,500 price for the stock.
• Goldman Sachs’ Heath Terry is hunting down a $4,500 target for AMZN.