Cryptocurrency bettors aren’t fully bought into Amazon.com Inc. (NASDAQ:AMZN) hitting $300 or higher in October, even as the tech behemoth braces for its third-quarter financial results.
Where’s Your Money on?
The betting crowd on Polygon (CRYPTO: POL)-based Polymarket currently assigns an 11% chance to this possibility, up from 4% the day before. Note that AMZN is yet to hit $300 in 2026.
The odds of AMZN topping $296 jumped sharply to 54% on Monday, only to plunge to 17% by the time of this writing. Punters assigned a 31% chance to a move above $288 and a 53% chance to a move below $280.
How Does the Long-Term Picture Look?
The speculation comes as Morgan Stanley named Amazon stock a top pick and raised its price target to $350 from $335 on Monday. Morgan Stanley analyst Brian Nowak sees a 3-to-1 risk-reward ratio, with a $220 bear case and a $410 bull case.
It’s worth pointing out that Wells Fargo and Cantor Fitzgerald each slashed price targets for AMZN stock earlier in the month.
The stock carried a consensus “Buy” rating from 30 analysts, with an average price target of $330, representing a 25.50% upside from current levels.
Amazon is scheduled to report earnings for the third quarter after the market close on Oct. 29.
Price Action: Amazon shares rose 0.29% in after-hours trading, according to Benzinga Pro. The stock closed 4.98% higher at $262.45 during Monday’s regular trading session.
AMZN trailed in the near term but exhibited a strong medium- and long-term trend, according to Benzinga’s Edge Stock Rankings.
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