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Cramer: Bullish Blue Apron analysts don't seem to notice Amazon's rise

  • Bullish notes on Blue Apron don't appear to notice Amazon's step into the meal kit delivery market, Jim Cramer says.
  • "All of these analysts better take into account that the world changed when Amazon bought Whole Foods," Cramer says.

CNBC's Jim Cramer said Monday he's not jumping on the bullish train for Blue Apron stock.

Blue Apron's stock surged Monday after three of its underwriters — Goldman Sachs, RBC Capital Markets and Oppenheimer — initiated coverage of the troubled recent IPO with buy ratings.

The analysts cited the company's U.S. leadership in the meal kit delivery market, improving market conditions, among other bullish sentiments.

"These all read as nothing has happened with Whole Foods — that Whole Foods wasn't bought by Amazon," Cramer said on "Squawk on the Street."

"All of these analysts better take into account that the world changed when Amazon bought Whole Foods," he said. "There hasn't been anyone who has been able to say, 'I'm Amazon proof.'"

Blue Apron shares began trading in late June and fell below their IPO price on just their second day of trading. It has been under pressure after Amazon signaled it might enter the meal-kit business.

Amazon had already been testing both food delivery, through AmazonFresh, and meal kits, which deliver fresh ingredients and recipes to subscribers. Amazon first experimented with AmazonFresh in 2007.

Regarding the stock market, Cramer warned investors to watch how financials perform on Wednesday after the Federal Reserve meets. Wall Street is watching for important language tweaks and details on how it will unwind its balance sheet.

Cramer also spoke on Twitter stock ahead of its earnings on Thursday. Cramer suggested the social media platform release its engagement numbers when President Donald Trump tweets.

—CNBC's Fred Imbert and Lauren Thomas contributed to this report.

WATCH: Amazon vs. Blue Apron: Meal Kit Showdown

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