Investment bank Piper Sandler today cut its price target on Amazon (AMZN) to $215 from $265 but kept an Overweight rating on the name.

Piper expects the tech giant to provide fairly upbeat guidance when it reports its first-quarter results within the next few weeks.

A customer entering an internet retail store, illustrating the convenience of online shopping.

A Look at Piper's Estimates for AMZN

Piper expects Amazon Web Services (AWS), the company's cloud-infrastructure unit, to increase its revenue by 17% in 2025. That forecast is in-line with analysts' average estimate.  Similarly, Piper predicted that the company would report Q1 sales of $153 billion, versus analysts' average estimate of $155 billion.

The investment bank estimates that AMZN will provide Q2 sales guidance which implies revenue growth of 6%-10% versus the same period a year earlier.

On the negative side, Piper slightly reduced its forecasts of the company's ad revenue and the sales of its online stores. The investment bank also slightly lowered its estimates of the revenue that the firm will maintain from providing services.

More About AMZN

Analysts on average expect the company's 2025 earnings per share to come in at $6.32, up from $5.53 in 2024.

In the last month, the shares are down 6%, while they have fallen 18% in the last three months.

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Disclosure: The author owns shares of AMZN but has no intention of trading them in the next 48 hours. This article is originally published at Insider Monkey.