5 Best Cheap Growth Stocks To Buy Now

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1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of hedge fund holders: 252

Amazon.com, Inc. (NASDAQ:AMZN) is a multinational which focuses on retail sales of consumer products and subscriptions.

Even though it is one of the largest companies in the world already, the stock is expected to grow earnings per share by an average annual rate of 33.25% over the next 5 years. Analysts also have an average price target of $171.18 per share for the stock.

As of Q2 2022, 252 of the 895 hedge funds tracked by Insider Monkey have positions in Amazon.com, Inc. (NASDAQ:AMZN), worth $30.07 billion. Its largest shareholder is Ken Griffin’s Citadel Investment Group with shares worth $7.01 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Amazon.com, Inc. (NASDAQ:AMZN) was one of them. Here is what the fund said:

Amazon.com, Inc.(NASDAQ:AMZN) is the world’s largest retailer and cloud services provider. Shares of Amazon declined 35% in the quarter due to weaker-than-expected profits resulting from an overcapacity of resources coming out of COVID. We expect Amazon to grow into its retail capacity in the quarters to come, which would enable it to improve profitability accordingly. Amazon remains one of our largest holdings due to its durable competitive advantages with a leading position in multiple trillion-dollar markets with a long runway for growth

You can also take a look at Simon Sadler’s Segantii Capital is Bullish on These 10 Stocks and 10 Best Stocks to Buy Now According to Billionaire Andreas Halvorsen.

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