Piper Jaffray’s top analyst Gene Munster weighed in today on Amazon.com, Inc. (NASDAQ:AMZN), reiterating an overweight rating and an $800 price target, as he believes the online retail giant will push the eCommerce frontier with automated consumption.

The analyst believes that over the next 3-7 years the driving theme in eCommerce will be the rise of automated consumption – the computer-driven purchase decisions of every day essentials – and that Amazon is already the leader in innovation in the space.

Munster wrote, “Amazon’s deepening supplier and manufacture relationships, position in the connected home, scale in fulfillment (including facilities and transportation), and its efforts in private label are all pointing to a very large opportunity for Amazon to become the leader in automated consumption. While difficult to predict the financial impact, we believe automated consumption will be apart of the Amazon share gain story over the next decade, a reality that is not fully appreciate by investors, in our view.”

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 17.6% and a 60% success rate. He has a 35.5% average return when recommending AMZN, and is rated #5 out of 3929 analysts.

Out of the 45 analysts polled by TipRanks, 40 rate Amazon stock a Buy, while 5 rate the stock a Hold. With a return potential of 11.6%, the stock’s consensus target price stands at $779.02.