AMZN Stock Rallies 4% After Evercore Says Agentic AI Could Supercharge Amazon’s Retail Growth

• Evercore maintained an Outperform rating and lifted its AMZN price target to $355 from $315.
• About 57% of Alexa AI users surveyed reportedly said they bought a product they were previously unaware of.
• Stocktwits retail sentiment remained ‘bearish’ despite Friday’s rally, with message volume ‘low’ at the time of writing.

Shares of Amazon.com (AMZN) gained around 4.2% on Friday after Evercore ISI said artificial intelligence could drive more consumers to the company’s online shopping platform and help propel its stock higher. The firm maintained an ‘Outperform’ rating and raised its price target to $355 from $315, implying around 38.5% upside from Thursday’s close.

At the time of writing on Friday afternoon, AMZN stock had pared some of its gains but was still trading 3.9% higher.

Evercore Sees AI Driving More Shopping On AMZN

Evercore ISI cited survey data indicating that AI is already influencing how consumers shop on Amazon. “For the first time, survey evidence [shows] that agentic AI is actually additive for Amazon Retail, with 57% of Alexa AI users buying a product they were not previously aware of,” the Evercore ISI analyst wrote in a note to clients, according to CNBC.

Agentic AI refers to artificial intelligence-powered tools or robots capable of carrying out tasks such as finding products and making online purchases without human assistance.

AMZN’s Dominance Stands Out In Evercore Survey

Evercore ISI’s annual online retail survey also highlighted Amazon’s strong position among consumers. About 92% of respondents said they had used Amazon, making it the most popular online platform among those polled, according to the CNBC report. Walmart (WMT), the next-most-used online retailer, had a penetration rate of 58%, according to Evercore ISI.

AI Could Accelerate Amazon’s Retail Growth

Evercore said Amazon’s position in online retail could strengthen as consumers increasingly use Alexa and other AI-powered shopping methods.

“Alexa for Shopping could be an accelerant … 36% [of participants in the survey reported] buying more,” because of the AI addition to Alexa, the analyst wrote. “Agentic AI could drive potential [acceleration].”

AMZN Stock: Stocktwits Retail Sentiment

On Stocktwits, retail sentiment for AMZN was ‘bearish,’ unchanged in the past 24 hours, while message volume was ‘low’ at the time of writing.

One retail trader said the 57% Alexa AI figure was “one of the most underrated” Amazon AI stats, adding that AI could help the company “create new demand by introducing customers to products they weren’t searching for.” The trader also said agentic AI could become “a massive advantage at Amazon’s scale.”

Another trader described Amazon as “the best stock to hold right now,” pointing to AI’s potential to support Amazon Web Services (AWS). The trader added that robotics could eventually help the company “cut a huge chunk of its operating costs.”

Evercore ISI’s call matches the consensus on Wall Street. According to Koyfin data, 59 of the 61 analysts covering the stock rate it a ‘buy’ or ‘strong buy,’ while only two rate it ‘hold.’ The stock has a 12-month average price target of $327.67, representing a potential upside of around 28% from the last close.

AMZN stock has gained over 14% year-to-date.

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