NEW YORK (TheStreet) -- Amazon (AMZN) shares are up 0.2% to $334.87 on Tuesday after the company announced that it had purchased Twitch, the world's largest video game broadcasting platform, for $970 million in cash.
Twitch is the fourth-largest driver of internet traffic in the U.S. behind only Netflix (NFLX) , Google (GOOG) , and Apple (AAPL) , and accounts for 2% of U.S. peak internet traffic, according to traffic tracker Deepfield.
Must Read: Warren Buffett's 25 Favorite Stocks
TheStreet Ratings team rates AMAZON.COM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMAZON.COM INC (AMZN) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and feeble growth in the company's earnings per share."