(AMZN) Stock Hits All-Time High, Still a Good Long-Term Investment - TheStreet

NEW YORK (TheStreet) -- Shares of (AMZN) - Get Report hit another all-time high today, meaning now is not the best time to buy it, but you should try to snatch it up when it dips, Surevest Wealth Management CEO Robert Luna said on CNBC's "Closing Bell" Friday afternoon.

"Since it's already at such lofty levels, make the case for buying it here," CNBC's Kelly Evans said. 

"If you're going to invest in Amazon in the next three months there's probably a case to be made that you hold off on it a little bit because the stock has had a nice run," Luna admitted. 

However, Amazon still looks good long-term and will probably reach a $1,000 stock price in the next 18 months, he claimed. 

The company is 22 years old, but still seeing significant growth in revenue and active users, he noted. "That's enviable even for a company like Twitter (TWTR), which can't achieve those types of numbers," Luna explained. 

In addition, Amazon's third party units are increasing, he noted. This is a result of the rest of retail realizing that in the future, all retail will go through Amazon, Luna claimed. 

"This is a company that's reinvented the marketplace," he concluded. 

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

Separately, 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.

TheStreet Ratings team rates as a Buy with a ratings score of B-. This is driven by some important positives, which the team believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks the team covers.

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

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