Shares of the Amazon tech company may reach $ 3,000 over the next two to three years, according to analysts' forecasts by Piper Jaffray, Bloomberg reports. This rise implies a rise of 65% in the company's current quotations.
"We have a high degree of confidence that Amazon shares can reach this level without large acquisitions or other substantial changes to the business," analysts say.
If this $ 3,000 per share assessment comes to fruition, it will mean a $ 1.47 billion ($ 1.31 billion) market capitalization – above the $ 1 billion level the retailer was struggling with giant Apple . The apple company was the first North American company to touch the billion dollar mark.
Amazon is up 0.41% on the stock price, which is already trading at $ 1,822.94. The retailer has already climbed almost 1.5% during a session. Since January, the company has already valued 21.51% and has an assessment of 898.5 billion dollars.
If the trend continues, this will be the fifth year of gains for the Bezos company. In 2015, shares rose 117.78%, while in 2016 they rose nearly 11%, adding 55% in 2017 and 28% last year.
According to data collected by Bloomberg, Amazon has 49 purchase recommendations. The target price points to $ 2,231, a figure above that estimated by Piper's analyst, which was set at $ 2,225.