Amazon’s (AMZN) cloud unit, Amazon Web Services (AWS), and Salesforce (CRM) are partnering to make it easier for developers to build and launch customer applications. The two have also strengthened ties to enable the sharing of data and workflows across their platforms.
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As a result of the global strategic partnership, customers will be able to leverage a full set of AWS and Salesforce capabilities to accelerate their digital transformations. (See Amazon stock chart on TipRanks)
Salesforce will also integrate Amazon’s voice, video, and artificial intelligence (AI) services into new applications. (See Salesforce stock chart on TipRanks)
According to AWS CEO Andy Jassy, the collaboration should simplify developers’ lives and empower them to develop across the two applications at any scale.
Jassy stated, “For more than five years, our customers have benefited from a tight relationship between AWS and Salesforce. Now, we are taking the partnership to the next level by integrating our offerings so developers using both AWS and Salesforce can build unified applications much faster and simpler than ever before.”
Loop Capital analyst Rob Sanderson has reiterated a Buy rating on Amazon with a $3,775 price target, implying a 7.7% upside potential to current levels. Commenting on Amazon’s Whole Foods, Sanderson said that it is benefiting from strong online grocery shopping habits and attitudes. The remarks follow a survey showing that Whole Foods is a popular choice among people ordering groceries online.
Consensus among analysts is a Strong Buy based on 33 Buys. The average analyst Amazon price target of $4281.3 implies 22.2% upside potential to current levels.
AMZN scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
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