No doubt about it, Amazon.com Inc.’s (NASDAQ:AMZNC) Prime Day #2 was a huge success. It was the company’s biggest sales day ever with worldwide orders more than 60% higher than the previous Prime Day.In the U.S. alone, orders rose by more than 50% over the previous Prime Day. All told, according to consumer strategist, R.J. Hottovy at Morningstar, the event may have added between $500 and $600 million to Amazon’s topline.Related: HERE’S WHAT AMAZON IS TEACHING MALLSNew Prime membersRevenue, however, was only the tip of the Amazon.com iceberg. One main goal with Prime Day is to sign up new members to Amazon’s Prime subscription program. The reason? That’s where revenue comes back into the picture.Prime members pay $10.99 per month or $99 per year to receive free 2-day shipping and a host of other benefits. Prime members spend an estimate $1,200 a year at Amazon. Non-members spend about $500. Amazon has not revealed how many new Prime members signed up but it was likely a bunch.Dumping Excess InventoryAn overlooked but likely additional major reason for Prime Day, at least according to the Benchmark Co., was to eliminate excess inventory. In fact, according to Benchmark, dumping excess inventory may well be the main reason for the day.At the same time, Prime Day reinforces the value for Prime members since only Prime subscribers can take advantage of the deals on that special day.Device Sales And SubscriptionsFinally, Benchmark, which is also an investment bank, said, “Amazon continues to use device promotions around key shopping events (Black Friday, Cyber Monday, among others).”Many of Amazon’s so-called “devices” serve to “embed the consumer in the Amazon ecosystem,” according to the bank.Additionally, Amazon used discounts and promotions to encourage consumers to sign up for regular subscriptions for personal and household products, apparel and private-label items.Analysts RespondAs a result, and thanks to the record-breaking sales day, Benchmark raised the PT on Amazon to $915. Piper Jaffray continues to rate Amazon overweight with a PT of $800. RBC Capital’s Mark Mahaney tempered his enthusiasm by criticizing the company for not revealing the number of new Prime members the day attracted. He reiterated his Outperform rating with a PT of $800.Morgan Stanley’s Brian Nowak said Amazon’s clothing and grocery categories are a $1 trillion industry. Because of this, progress in those two sectors, he said, weigh heavily in his ratings. Nowak reiterated his Overweight rating with a price target of $800.Amazon will release it next earnings report on or about July 25. Analysts expect a positive report and the potential to beat consensus.For more see: Related: WOO TRADER BENZINGA INDIVIDUAL ANALYST INFO