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Why I'm in Amazon for the long haul: Analyst

Investors may be fed up with Amazon after the company's big earnings miss last week but one analyst said he still "loves" the e-commerce company and is in it for the long haul.

"It's one of those stocks that can do really well. We're surrounded by e-commerce today. I think e-commerce hasn't even scratched the surface," Ari Zoldan, CEO of Quantum Networks, said in an interview with CNBC's "Closing Bell"

Read MoreWall Street may finally be giving up on Amazon

Jeff Bezos
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Jeff Bezos

On Thursday, Amazon reported a loss of 95 cents per share, compared with a loss of 9 cents per share in the year-earlier period. It also projected weaker-than-expected sales for the holiday quarter. Shares sank on the news, with one pro predicting Amazon shares would lose more than half its value.

Read MoreAmazon shares drop 13 percent on missed estimates

"I really think … it's on its way toward $100 a share," Bob Olstein, chairman and CIO of Olstein Capital management, told "Closing Bell" Friday.

Zoldan disagreed.

"Jeff Bezos was very, very clear from early on. He said he is not interested in a foreseeable profitable company for some time," he said. "I don't understand why the Street, why analysts, why the bankers out there are shocked by a lot of the swings here," he argued.

Plus, Zoldan said Amazon is doing a lot of enterprise work outside the retail space.

"They're producing data farms, they're investing a lot in expansion in terms of warehousing also, and owning the B to B customer."

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As for comparisons to Chinese e-commerce giant Alibaba, which is spending money but is also profitable, Zoldan said the Chinese market is "very, very different from the U.S. market."

"I think that Alibaba's entrance into the U.S. market is actually going to help Amazon not hurt Amazon, and I definitely see some potential partnership down the road."

Disclosure: Zoldan and his family own Amazon.

Disclaimer

—CNBC's Everett Rosenfeld contributed to this report.