is optimistic. The analyst believes that a sale ahead of the holiday season will enhance the value of Prime and will also benefit customers who are struggling with high expenses.
In a bid to enhance its Prime platform, Amazon also offered its U.S. Prime members a free one-year membership to Grubhub+. The company has also been investing heavily in improving its content portfolio in the past few months. Moreover, White also believes thatreinvestments back into the business, White believes that the company's current profitability is way below its long-term potential. Needless to say, the analyst reiterated a Buy rating on the stock, with a price target of $172.
"We believe the company's long-term growth path is attractive across the e-commerce segment, AWS, digital media, advertising, Alexa, robotics, AI, and more," said White, justifying his bullishness.among nearly 8,000 analysts tracked on TipRanks. Notably, 56% of his ratings have been successful, each generating 10.10% returns on average.