On Friday, Topeka Capital Markets upgraded its price target on Amazon.com (Nasdaq: AMZN) stock to $485.00 per share, another boost for the company that seems to do no wrong of late. The share-price target indicates potential upside of 23.21% from Amazon stock's present value of $396 per share.
Analysts at Citigroup Inc. also raised their price target from $381.00 to $457.00 per share in a Dec. 30 research note to investors. Analysts wrote they believed AMZN had a strong Q4 and that the company's momentum in online retail and cloud computing services will continue into 2014.
The price targets join a handful of bullish AMZN evaluations. Currently, two analysts have assigned Amazon stock a "Strong Buy" rating, and 27 have given it a "Buy" rating. That compares to the nine "Hold" ratings and one "Sell." This gives Amazon a consensus rating of "Buy" and an average price target of $389.76.
One reason for the bullish forecasts: Analysts are projecting earnings growth of 233% in 2014, compared to 167% earnings growth in 2013.
And the numbers that support investing in AMZN don't end there...
Yesterday (Tuesday), tech-driven customer experience analytics company ForeSee released an index that ranks customer experience excellence in the cutthroat 2013 holiday shopping season.
The index is comprised of more than 67,600 surveys collected between Nov. 29 and Dec. 17 for the 100 largest U.S. retailers, as reported by the Fortune 500 and Internet Retailers' top 100 websites.
Amazon.com landed top honors, tying with outdoor apparel outfitter L.L. Bean. (Priceline.com (Nasdaq: PCLN) received the lowest rating.)
Rave customer ratings helped propel Amazon stock up a whopping 62% in 2013.
And the good news is it's not too late for investors to capture profits during AMZN's ride to the top.
That's because of these major forces that will push the online retail giant's numbers even higher in 2014...