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Stock of Amazon Reaches Highest Close Since 2013

September 12, 2023
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Amazon.com Inc. achieved its highest closing stock price in over a year on Monday, reflecting growing optimism regarding the e-commerce giant's potential to enhance the financial performance of its retail operations.

Amazon's shares (AMZN, -1.60%) concluded Monday's trading session at $143.10, registering a 3.5% increase. This closing price marked the most favorable outcome since August 16, 2022, when the stock closed at $144.78, as per Dow Jones Market Data.

UBS analyst Lloyd Walmsley expressed a positive outlook on Amazon's e-commerce division on Sunday. In his analysis, he outlined a path for the company to achieve double-digit margins in North American retail over time, with expectations of reaching 8% to 9% by the year 2025. To provide context, the current consensus estimate for North American retail margins in 2025 stands at 5.4%.

Despite maintaining his buy rating and an unchanged price target of $175 for Amazon shares, Walmsley expressed encouragement over recent developments within the company. These developments include an enhanced collaboration with Shopify Inc. (SHOP, -1.83%) and the introduction of new fees for its Seller Fulfilled Prime program.

Regarding these advancements, Walmsley noted, "We see this agreement with Shopify, as well as the reinstatement of the Seller Fulfilled Prime (SFP) program, as a win/win and signs that AMZN [has] started ramping strategies to externalize and monetize Prime off-platform."

In terms of performance, Amazon shares have seen a remarkable year-to-date gain of 70%, a notable contrast to the S&P 500 (SPX), which has advanced by 17% during the same period.

Bryan Curtis
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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