- Amazon advances satellite initiative with Project Kuiper, aiming for 3,200 satellites by 2026.
- Wall Street analysts project an average target price of $247.14 for AMZN, suggesting a potential 9.18% upside.
- GuruFocus estimates suggest a downside of 16.29% based on the GF Value.
Amazon (AMZN, Financial) has taken a significant step forward in its ambitious Project Kuiper, following a successful deployment of 24 additional satellites. This launch, achieved via a SpaceX Falcon 9 rocket, brings the total satellite count to 78. With aspirations to reach over 3,200 satellites by 2026, Project Kuiper positions Amazon to capture a substantial market share in satellite-based internet services, potentially generating $7.1 billion in revenue by 2032.
Wall Street Analysts' Forecast
From a panel of 67 analysts, the average one-year price target for Amazon.com Inc (AMZN, Financial) is set at $247.14. The forecasts include a high estimate of $305.00 and a low estimate of $195.00. This average price target implies a potential upside of 9.18% from Amazon's current trading price of $226.35. For more comprehensive forecast data, you can visit the Amazon.com Inc (AMZN) Forecast page.
The consensus recommendation among 73 brokerage firms rates Amazon.com Inc (AMZN, Financial) at an average of 1.7, indicating an "Outperform" status. This rating system spans from 1 to 5, where 1 is a Strong Buy and 5 is a Sell.
Evaluating GF Value
According to GuruFocus's estimations, the GF Value for Amazon.com Inc (AMZN, Financial) over the next year is projected at $189.47. This suggests a potential downside of 16.29% from the current market price of $226.35. The GF Value is derived from Amazon's historical trading multiples, business growth trajectories, and future performance estimates. For a deeper insight into the company's valuation, navigate to the Amazon.com Inc (AMZN) Summary page.
