Amazon stock: Wells Fargo cuts target for Amazon stock from USD 338.00 to USD 329.00

Published on 10/16/2026 at 17:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue reached USD 200.6 billion in the second quarter, up 20.0 percent. Amazon stock costs EUR 225.93 on October 16, 2026 at 5:02 p.m. CEST.

Analyst view and earnings date

Wells Fargo lowered its Amazon target from USD 338.00 to USD 329.00 on October 12, 2026.
Amazon revenue reached USD 200.6 billion in the second quarter, up 20.0 percent year over year.
Amazon stock traded at EUR 225.93 at Lang & Schwarz on October 16, 2026 at 5:02 p.m. CEST.
Amazon will discuss its third-quarter results on October 29, 2026.

Amazon.com Inc. US0231351067 Bauhaus geometric poster E-COMMERCE CLOUD typography primary colors — Amazon.com Inc. (US0231351067) Bauhaus poster with E-COMMERCE CLOUD text and primary-color geometry, Illustration mit AI erstellt.

Wells Fargo lowered its Amazon.com target from USD 338.00 to USD 329.00 on October 12, 2026, while keeping an Overweight rating, according to Investing.com. Against the Nasdaq price of USD 253.90 at 11:06 a.m. EDT on October 16, 2026, the new target stands 29.58 percent higher. Amazon's euro price was EUR 225.93 at Lang & Schwarz on October 16, 2026 at 5:02 p.m. CEST.

Second-quarter revenue reached USD 200.6 billion

Amazon generated USD 200.6 billion in revenue in the second quarter of 2026, up 20.0 percent from USD 181.5 billion in the first quarter. Net income reached USD 62.7 billion, compared with USD 30.3 billion in the first quarter, while diluted earnings per share came to USD 5.75 versus USD 2.78. The period ended June 30, 2026.

The revenue scale gives the analyst target cut a clear operating backdrop. Wells Fargo said Amazon's 2026 capital expenditure outlook was USD 220.0 billion and projected fourth-quarter revenue of USD 248.0 billion at the high end of its range, according to Investing.com.

Amazon stock stays inside its yearly range

Amazon's Nasdaq price of USD 253.90 at 11:06 a.m. EDT on October 16, 2026 sat between a 52-week low of USD 196.00 and a 52-week high of USD 287.20. The current level was USD 33.30 below the high and USD 57.90 above the low. Trading volume stood at 10,065,666 shares against an average of 38,703,565 shares at the same timestamp.

Valuation and October 29 results

Amazon's market capitalization was USD 2.7 trillion as of October 16, 2026, and its price-to-earnings ratio was 20.47. The company has scheduled its third-quarter 2026 results conference call for October 29, 2026 at 5:00 p.m. ET, as stated in its Amazon.com release dated October 15, 2026.

Comparison with peers

Amazon.com Inc.: minus 0.34 percent, P/E 20.47, market capitalization USD 2.7 trillion, Nasdaq, October 16, 2026.
Meta Platforms (Nasdaq, USD): minus 2.17 percent, P/E 27.24, market capitalization USD 1.8 trillion, October 16, 2026.
Walmart (NYSE, USD): plus 0.91 percent, P/E 43.08, market capitalization USD 946.5 billion, October 16, 2026.

What comes next for Amazon stock

The October 29 results call is the next scheduled date for Amazon investors. The second-quarter revenue increase of 20.0 percent and the USD 220.0 billion capital expenditure outlook put scale and spending at the center of the upcoming discussion. On October 11, 2026, Amazon had explored a USD 7.0 billion Decart deal, a company event covered earlier in the stock's news cycle.

Price and dates for Amazon

Amazon stock was trading at EUR 225.93 at Lang & Schwarz on October 16, 2026 at 5:02 p.m. CEST. The Nasdaq price was USD 253.90 at 11:06 a.m. EDT on October 16, 2026. The further course of trading is shown by the continuously updated real-time quote of Amazon stock.