One of last year's top-performing stocks in the S&P 500 has plenty of runway left in 2016, according to S&P Capital IQ analyst Tuna Amobi.
Amazon shares have a shot at rising 15 percent or more over the next 12 months, thanks to a strong holiday season and rapid growth in its web services business, Amobi told CNBC's "Tech Bet" on Thursday in an interview.
The e-commerce giant reports fourth-quarter earnings after the bell Thursday. Amazon shares have dipped more than 9 percent so far in 2016.
"There's valuation concerns after last year's significant run-up in shares, but if you look at price to sales, which is our preferred metric, I think it's still relatively attractive to other Internet retail names," Amobi said.