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Robert W. Baird Weighs In on, Inc. (AMZN) and Alphabet Inc (GOOGL)


With the S&P 500 on track for its best week of the year, Robert W. Baird analyst Colin Sebastian weighed in with a few insights on the online retail giant, Inc. (NASDAQ:AMZN) and Alphabet Inc (NASDAQ:GOOGL), parent company of Google, with positive ratings., Inc.

Sebastian was out with an update on Amazon, straight from re:Invent, the biggest event of the year for AWS. The analyst rates the stock an Outperform, with a $630 price target, which implies an upside of 17% from current levels.

The analyst noted, “Today, Amazon announced QuickSight, a business intelligence tool[..[We highlight this announcement as additional evidence of Amazon moving “up-the-stack,” building off of its leading position in infrastructure-as-a-service (IaaS) into more “value-added” software-as-a-service (SaaS) applications. Amazon has also separately announced other SaaS services such as e-mail (WorkMail), file-sharing (Zocalo), and virtual desktops (WorkSpaces)”

Furthermore, “In terms of assessing how Amazon may evolve its SaaS offering, we point to Google Apps, which offers core products such as e-mail, calendar, file-sharing, spreadsheet...