Even though Amazon.com, Inc. (NASDAQ: AMZN) stock has fallen by more than 13% over the past two weeks from its all-time high (ATH), Eric Sheridan, a Wall Street analyst at Goldman Sachs Group Inc. (NYSE: GS), expects a bull rally towards a new peak over the next 12 months. 

On Thursday, October 1, 2026, Sheridan reiterated a ‘Buy’ rating for Amazon stock, according to a note sent to clients. The bank also reaffirmed its 12-month price target for AMZN at $375.

As Amazon’s price traded at approximately $249.15 at the time of writing, this analyst indicates a possible 50.51% gain by October 1, 2027. 

Goldman Sachs based its bullish thesis for Amazon stock on the company’s compounded revenue growth and operating margin expansion on a multi-year horizon. As such, this firm added AMZN stock to its United States Conviction List.

Is Amazon a good stock to buy?

Earlier this week, Amazon stock received ‘Buy’ ratings from more Wall Street analysts. For instance, Scott Devitt, a researcher at Rosenblatt Securities, maintained a ‘Buy’ rating and raised the firm’s 12-month price target for AMZN to $360 from $335.

Similarly, Justin Post, an expert at Bank of America Corp. (NYSE: BAC), raised his 12-month price target for Amazon to $320 from $286.

As a result, 41 analysts surveyed by TipRanks over the past 3 months have set an average rating for AMZN at ‘Strong Buy’. Most importantly, their average price target is around $331.82, suggesting a potential rally towards a new ATH over the next 12 months.

AMZN stock price performance 

Over the past 12 months, AMZN’s price has gained 12.93%, thereby pushing the company’s market capitalization to $2.7 trillion at the time of reporting.

Consequently, Wall Street analysts, led by  Goldman Sachs, believe that Amazon stock could continue with its established uptrend over the next 12 months.

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