In a research report released Wednesday, Baird analyst Colin Sebastian reiterated an Outperform rating on shares of, Inc. (NASDAQ:AMZN), with a price target of $800, after the e-commerce giant announced that customer orders surpassed Prime Day 2015 by more than 60% worldwide and more than 50% in the U.S., with mobile order volume more than doubling from last year’s event. Amazon shares are currently trading at $744.39, down $3.82 or -0.51%.

Sebastian commented, “While we believe there is overall incremental sales volume created by the new shopping holiday, we also note that some order volume is “cannibalized” from days both before and after Prime Day. Nonetheless, we view Prime Day as a success, and helps to boost traffic and visibility for Amazon ahead of the seasonally stronger shopping months of the year.”

The analyst continued, “We believe that Amazon benefited this year from greater awareness of the event, as well as learning from last year’s stock-outs and logistical challenges to ensure greater availability of product and higher-quality deals. In addition, Amazon worked more closely with select third-party sellers to plan in advance for higher order volumes.”

Sebastian has a very good TipRanks score with a 74% success rate and he stands at #12 out of 3,821 on the analyst leaderboard. Sebastian has a 36.8% average return when recommending AMZN.

Out of the 46 analysts polled by TipRanks, 41 rate Amazon stock a Buy, while 5 rate the stock a Hold. With a return potential of 8%, the stock’s consensus target price stands at $802.85.