Zacks Investment Research downgraded Amazon.com Inc. to a "Hold" rating on January 3, 2026. The firm previously held a "Strong Buy" rating.
This downgrade occurred despite Amazon recently surpassing analyst expectations for both earnings per share and revenue. However, the broader analyst consensus for the e-commerce and cloud computing giant remains a "Moderate Buy."
In contrast, several financial institutions show confidence in Amazon’s 2026 trajectory. Wells Fargo, Oppenheimer, and BMO Capital recently increased their price targets for AMZN. They cite anticipated momentum from Amazon Web Services (AWS) and the company's investments in artificial intelligence.
This mixed sentiment is also evident in institutional ownership. While some firms trim their positions, larger institutions have been adding to their stakes.