Piper Sandler Raises Amazon Price Target to $320 After Strong AWS Quarter

TLDR

• Piper Sandler raised Amazon’s price target to $320 from $315.
• Amazon Q2 net sales rose 20% year over year to $200.6B.
• AWS revenue jumped 36.7% to $42.2B during the quarter.
• AWS operating income rose to $16.6B from $10.2B a year earlier.
• Amazon raised its 2026 capital spending forecast to about $220B.

Piper Sandler raised its Amazon price target to $320 from $315 after the company reported strong second-quarter results, led by faster AWS growth, higher operating income, and stronger cloud margins.

Amazon stock rose after revenue crossed $200 billion and AWS posted its fastest growth in 18 quarters. The results helped ease concerns over rising AI infrastructure spending, even as Amazon lifted its 2026 capital expenditure forecast to about $220 billion.

Piper Sandler Cites Strong AWS Growth

Piper Sandler kept an Overweight rating on Amazon after reviewing the company’s second-quarter report. The firm said the quarter was one of Amazon’s strongest, supported by cloud growth and better margins.

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