Walmart’s (WMT) $2.3 billion acquisition of discount television maker Vizio (VZIO) has officially closed, with the deal representing a serious shake-up in the digital advertising space.
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Walmart is now not only a major advertiser, but also a major displayer of advertising. Going forward, Walmart will be able to improve its targeted advertising. Plus, Vizio counted about 18 million active accounts back when Walmart first approached the company this past February.
Executive vice president of Walmart Seth Dallaire said, “Vizio has also expertly changed their business over time, like building and quickly scaling a profitable advertising business. Pairing it with Walmart Connect will be impactful and allow us to invest in our business even further on behalf of our customers.”
Reshaping Stores
Additionally, Walmart may be changing its shopping carts. The report noted that newly-designed shopping carts called “Caroline’s Carts” have hit store locations in 11 different states. The new carts come with a special seat that holds up to 250 pounds.
This will reportedly make it easier for caregivers to navigate the store with a person who cannot walk. Walmart has put several million into the acquisition of “Caroline’s Carts,” and that may help drive future sales.
Is Walmart Stock a Good Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on WMT stock based on 26 Buys and two Holds assigned in the past three months, as indicated by the graphic below. After a 84.13% rally in its share price over the past year, the average WMT price target of $96.65 per share implies 2.46% upside potential.
