12 Best E-Commerce Stocks to Buy According to Analysts

Page 10 of 11

2. Newegg Commerce, Inc. (NASDAQ:NEGG)

Analyst Upside: 560.79%

Number of Hedge Fund Holders: 1

Newegg Commerce, Inc. (NASDAQ:NEGG) is an e-commerce company that offers an online marketplace platform for consumer electronics, computer components, smart home and gaming products, and entertainment. It also provides third-party logistics services across the globe. The company experienced headwinds due to consumer spending shifts, high interest rates, and inflation in the first half of 2024.

However, it is actively working to adjust its company’s size and structure to improve its revenue growth. Newegg Commerce, Inc. (NASDAQ:NEGG) is also focused on cash balance and inventory, which it maintained at around $49.7 million and $132 million in the first half of fiscal 2024, respectively.

The company expects a rebound in sales in the coming months. In addition, the increasing affordability, availability, and capabilities of AI-powered PCs are anticipated to boost its long-term outlook for core computer sales. The company ranks second on our list.

Page 10 of 11