More Squawk From Jim Cramer: Amazon.com (AMZN) 'Doing Well' Ahead of Earnings

Investors shouldn't necessarily buy Amazon.com (AMZN) stock after its recent run, but the company is doing well, Jim Cramer says.
By Rachel Graf ,

NEW YORK (TheStreet) -- Shares of Amazon.com (AMZN) - Get Report are up 0.47% to $749.19 in Thursday morning trading after Goldman Sachs hiked its price target to $900 from $790 on the stock, noting that second-quarter revenue should beat estimates and adjusted operating income should be $1.74 billion.

But Goldman is looking for 58% year-over-year growth in Amazon Web Services, which represents a deceleration in growth from 64% in the previous quarter.

Additionally, there was data out the other day that indicated that Amazon Web Services growth might be just 11%, TheStreet's Jim Cramer noted on CNBC's "Squawk on the Street" this morning.

Cramer is nonetheless optimistic about the Seattle-based company ahead of earnings.

"I said last night on 'Mad Money,' listen this is not necessarily when you come in and buy Amazon after a very big run," he noted. "But Amazon is doing well."

The e-commerce giant is scheduled to report second-quarter financial results after the market close on July 28.

(Amazon.com is held in the Growth Seeker portfolio. See all of the holdings with a free trial).

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B-.

Amazon.com's strengths such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, expanding profit margins and solid stock price performance outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

You can view the full analysis from the report here: AMZN

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

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