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Amazon’s Ring Moves to Boost Community Transparency
Amazon’s (AMZN) subsidiary Ring has come up with a new feature that it hopes will increase transparency around how police use videos from its home security system to fight crime.
Ring's internet-connected doorbells and cameras let people monitor what is going on around their homes. Amazon acquired Ring in 2018.
It also operates the Neighbors app, a social platform where people can share and discuss videos from the Ring surveillance system. People have used the app to provide police with surveillance footage that might help them with criminal investigations.
In the past year, Ring turned to independent experts to help it develop ways to provide its community with more insights into how police use the Neighbors app. As a result, the Amazon unit has decided to make police requests for videos through the app public.
Police and fire departments seeking information from Ring products users will need to post their request publicly through a new feature in the Neighbors app called “Request for Assistance”. The feature will also allow Neighbors’ users to view a police department’s history of requests. Ring users will have the option to block police request posts.
“We believe transparency and accountability are crucial to safer, better communities,” Ring said in a blog post. (See Amazon stock analysis on TipRanks)
On the back of Amazon’s MGM acquisition, Baird analyst Colin Sebastian reiterated a Buy rating with a price target of $4,000 on Amazon stock. The analyst’s price target implies 25.51% upside potential.
“We believe that the acquisition of MGM Holdings should significantly strengthen Prime Video's competitive position in the online streaming segment,” noted Sebastian.
Consensus among analysts is a Strong Buy based on 31 Buys. The average analyst price target of $4,295.17 implies 34.77% upside potential to current levels.
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Amazon Deepens Ties with Casino Group to Enhance Food E-Commerce in France
Amazon (AMZN) has deepened its ties with Casino Group in France to offer customers a wide selection of food products and pick-up points. The strategic alliance will allow the e-commerce giant to introduce new customers to the Casino Group’s expertise.
The two have been exploring ways of deploying new solutions such as express food delivery services to make life easier. The rolling out of a “click and collect service” in Casino stores is the result of the strengthened collaboration.
The click and collect service will be up and running from July. At first, it will be available in Annecy and Clermont-Ferrand. Amazon Prime Members will be able to order from a selection of thousands of food items. In return, they will be allowed to pick up the orders from one of the 180 Casino collection points. (See Amazon stock analysis on TipRanks).
The new service affirms Casino Group's growing digital strategy to offer a wide range of local services in the food e-commerce industry.
"We are delighted to be working with Casino Group and to offer this new click and collect service which will enable Prime members to benefit from an even wider selection of food products. This new service will ultimately make their lives easier throughout France," said Amazon France’s MD Frédéric Duval.
Morgan Stanley analyst Brian Nowak believes Amazon is on the cusp of offering much broader same-day shipping options. According to the analyst, the move will allow the company to raise consumer expectations and ramp up the competition. Additionally, the analyst sees the e-commerce giant moving U.S Prime Now into the Amazon app and website.
Nowak maintains a Buy rating on the stock with a $4,500 price target implying 41.20% upside potential to current levels.
Consensus among analysts is a Strong Buy based on 31 Buys. The average analyst price target of $4,295.17 implies 34.77% 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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