With Wednesday’s acquisition of smart-doorbell maker Ring, Amazon.com Inc. is continuing to invest in owning the smart home space. One analyst said that the Seattle-based company could look to fill gaps in brick-and-mortar retail and home improvement by acquiring companies such as Target Corp. (TGTGet Report) or the privately-held Menards.

Ring, formerly known as DoorBot when it was pitched on CNBC’s “Shark Tank” in 2013, makes smart doorbells that stream audio and video to users’ phones. Multiple sources estimate the deal’s value at above $1 billion and GBH Insights analyst Daniel Ives wrote Wednesday that though pricey, the deal will allow Amazon to continue to dominate the smart home market.

Ives maintained the firm’s “highly attractive” rating and $1,850 price target on Amazon, according to his report.

Brittain Ladd, a supply chain consultant who previous worked at Amazon, said that Amazon will now essentially own the entire shopping experience from beginning to end, with its digital assistant Alexa placing orders, managing deliveries and now letting couriers into the user’s home with help from Ring.

“For other companies, [smart home technology] is technology that performs a service,” Ladd said. “Amazon understands that in the long term, the company needs…