Piper Jaffray analyst Gene Munster was out pounding the table on Amazon.com, Inc. (NASDAQ:AMZN) Tuesday, reiterating an Overweight rating and price target of $800, which implies an upside of 18% from current levels.

Munster wrote, “We believe that Amazon will show strong retail unit growth for the Dec-15 quarter (22%-24% y/y), driven primarily by the strong adoption of Prime and GMV/user growth rates seen YTD. We believe there are 55-60 million Prime members worldwide and that these accounts do 3-4x the volume of a non-Prime account; this is probably aiding in the ~11% GMV/account growth seen in the Sep-15 quarter. While its usefulness is mixed, ChannelAdvisor indicates that Amazon is seeing strong SSS trends during key online shopping days (Thanksgiving, Black Friday, and Cyber Monday).”

“Amazon released select performance details for Black Friday/Cyber weekend, which showed strong product adoption. While many of Amazon’s devices are sold close to breakeven on a gross margin basis, we see these devices as important engagement tools. Fire TV and Amazon Echo outperformance in particular give us confidence in the company’s ability to retain and deepen Amazon Prime relationships,” the analyst added.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Gene Munster has a total average return of 24.4% and a 70% success rate. Munster has a 44.1% average return when recommending AMZN, and is ranked #1 out of 3644 analysts.

Out of the 42 analysts polled by TipRanks, 36 rate Amazon stock a Buy, while 6 rate the stock a Hold. With a downside potential of 3%, the stock’s consensus target price stands at $661.07.