Wall Street may finally be giving up on Amazon

Jeff Bezos better buckle up because Wall Street may be throwing in the towel on Amazon.

Read MoreAmazon misses estimates

The company posted a huge earnings miss for its third quarter on Thursday, reporting a loss of 95 cents a share versus the street's estimate of 74 cents. And that big miss may be the last straw for investors, analysts said.

"This is a show me the revenue story gone bad. Last November I warned that investors really are growing impatient ... this loss is just really a hard one to swallow," said Lou Basenese, founder of the research firm Disruptive Tech Research, on CNBC's "Closing Bell. "

"Last quarter you had this loss of about $41 million and this is going to be a tough one to justify saying 'we are investing in the future' when the loss is that big," he said.

Amazon stock after earnings

Period After hours % Chg.
Q3 '14 23 Oct '14 -11%
Period Day after Earnings % Chg.
Q2 '14 25 Jul '14 -9.6
Q1 '14 25 Apr '14 -9.9
Q4 '13 31 Jan '14 -11
   
Source: CNBC Analytics

Amazon also missed the street's revenue estimates and gave a disappointing outlook. The stock sank 11 percent in after-hours trading.

The company has guided top line growth of 20 percent for about five quarters, but its guidance for the fourth quarter strays from that trend, Basenese said. Amazon gave guidance of $27.3 billion to $30.3 billion, while the street was looking for $30.39 billion.

Amazon has continued to push for huge revenue growth all the while assuring investors that it will turn the profits on at some point, but now that plan looks to be crumbling, Basenese said.

What's more, the company's big earnings miss may even begin to spur investor activism.

"Investors have been giving this company a pass for like 20 years, the question now is this potentially an activist situation?" said Carol Roth, the author of The Entrepreneur Equation, on CNBC's "Closing Bell" on Thursday.

"Are we going to get investors who have invested in the stock coming in and saying you need to get your act together because we need to see if you are going to make money as a company," Roth said.

By CNBC's Cadie Thompson. Follow her on Twitter @CadieThompson.