What happened

Shares of Amazon (NASDAQ:AMZN) jumped on Monday, rising as much as 6.1%. As of 12:41 p.m. EDT today, the stock was up 5.6%.

The gain was fueled by several analysts' decisions to boost their 12-month price targets for the stock ahead of the company's second-quarter earnings report this month. 

A box sitting on a front porch.

Image source: Getty Images.

So what

MKM Partners analyst Rohit Kulkarni reiterated his buy rating for Amazon stock and increased his price target from $2,525 to $3,350. The analyst recommends investors add to the stock on any pullbacks. 

Jefferies analyst Brent Thill similarly kept a buy rating. But he set a price target of $3,800, up from a previous target of $3,100. He believes the company saw strong growth in Q2 and has continued to see robust top-line performance into July. 

And Goldman Sachs analyst Heath Terry raised his price target from $3,000 to $3,800, keeping a "conviction buy" rating on the e-commerce giant. The higher price target for the stock reflects his improved outlook for both Amazon’s online retail and cloud-computing segments.

Now what

Investors will get a better idea of whether these analysts' bullish outlook for Amazon's business is on par with reality when the company reports its second-quarter results. The e-commerce specialist is scheduled to release its latest quarterly report after market close on July 30.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.