When e-commerce giant Amazon (NASDAQ:AMZN) opened storefronts in the past, they sometimes brought them in complete with contactless payment systems and completely unmanned stores. While some thought this was an invitation to lawlessness, others thought it was a novel boost to convenience. And now, Amazon is up modestly in Thursday afternoon’s trading thanks to just how well some of that Amazon tech is doing in the hospital space. Amazon’s “Just Walk Out” technology is specifically designed for healthcare employees, though it’s a safe bet it can expand elsewhere as needed.
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With Just Walk Out, employees can buy food, drinks, and similar goods just by presenting their identification badges to a scanner system. This prevents an entire step in the goods procurement process and allows healthcare employees to get back to their jobs faster. A combination of cameras and sensors makes for the connection work, and so far, reports suggest that it’s working quite well for the users. Right now, it’s only really on hand at the Candler Hospital Campus in Savannah, Georgia, for healthcare providers. But it’s already in use at 120 other venues across three continents, which bodes well for its overall acceptance.
Just Part of the Package
This latest foray into the mobile payments space is likely to prove valuable for Amazon; there’s nothing wrong with a little convenience, especially when it’s as simple as scanning a badge. Of course, we know Amazon has more than that in the tank. It’s been working frantically on AI development, though reports note that the Q chatbot’s launch was “rushed and flawed.” And with reports noting that Amazon is looking to push AI into the cybersecurity space as well, that could, ultimately, get interesting.
Is Amazon Stock a Buy or Sell Right Now?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 42 Buys assigned in the past three months, as indicated by the graphic below. After a 63.42% rally in its share price over the past year, the average AMZN price target of $184.13 per share implies 18.56% upside potential.
