Stock Market Today: Amazon.com Goes Gonzo, Nasdaq Sets New High

Amazon.com (AMZN) and Tesla (TSLA) sprinted to large gains Monday, launching the Nasdaq to fresh highs and putting the S&P 500 above breakeven for 2020.

(Image credit: Getty Images)

A number of market darlings that had taken a breather over the past week roared to life in Monday's trading.

Amazon.com (AMZN, +7.9%) snapped a five-day losing streak after analysts from Goldman Sachs, Jefferies and MKM Partners reiterated their Buy ratings and upped their 12-month price targets on the stock. GS and Jefferies now both see Amazon hitting $3,800 per share, which would be another 19% upside from here. Specifically, Goldman sees AMZN stock getting to that target on the back of "accelerating ecommerce growth."

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Disclaimer

Kyle Woodley was long AMZN and MSFT as of this writing.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.