Amazon, Inc. (AMZN) shares continued to plunge on Friday after the e-commerce giant's latest results missed Wall Street expectations for the third quarter. The company posted a loss of $437 million, or 95 cents per share, on sales of $20.58 billion. Reuters/Rick Wilking, Inc. (NASDAQ:AMZN) shares plunged Friday following the e-commerce giant’s disappointing third-quarter results. Even before the company announced its largest quarterly loss in 14 years on Thursday, the stock had already dropped 13 percent since Amazon's last quarterly results missed Wall Street expectations in July.

After the stock closed down more than 8 percent at $287.06 on Friday, should investors buy shares at the new discount price or steer clear?

Here's what analysts are saying now:

“I have enough respect for the CEO to know most of their issues likely will prove short term. So despite the big earnings and revenue shortfall, I happen to think it's attractive…”

-Mark Newton, chief technical analyst at Greywolf Execution Partners

“We had actually had a ‘Sell’ recommendation literally up until this morning when we upgraded to ‘Hold’ and we left our price target at $300. The reason for our upgrade was that the current valuation was more in line with what we consider a fair risk and reward.”

-Tuna Amobi, senior media and entertainment analyst at Standard & Poor's U.S. Equity Research Services

“Amazon's business model is challenged. I am not certain that there is a path to long-term profitability. They've got profit pools but the core business (retail) is so expensive that it's unclear they will be able to grow forever without incurring tremendous losses. At some point the business will mature but then the valuation will also be significantly smaller.”

-Sucharita Mulpuru, Forrester Research Analyst

“At first glance, AMZN’s results and guidance looked weak, but after backing out the $170 million write off for the Kindle Fire Phone, GP growth was 29 percent, solid and in-line with last quarter. Frustration with AMZN is reaching peak levels, and we think shares could find support… around $280, but as we previewed we are struggling to identify a catalyst to break the negative momentum. Maintain ‘Buy’ on long term outlook.”

-Ross Sandler, analyst at Deutsche Bank

“Our neutral view on Amazon has centered around the company’s accelerated investments in areas and businesses outside its core competencies resulting in the company facing a more rigid competitive set. We believe investors will quickly grow less tolerant than in the past of this investment cycle as numbers continue to decline. We maintain a ‘Hold’ rating.”

-Scott Devitt, analyst at Stifel Nicolaus