5 Best E-Commerce Stocks to Buy Now

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

Number of Hedge Fund Holders: 269

Amazon.com, Inc. (NASDAQ:AMZN) is a clear leader in the e-commerce and cloud computing spaces, giving it a first-mover advantage in two rapidly growing industries. The company has poured hefty investments into its logistics infrastructure, giving it the ability to offer same-day and even same-hour delivery to customers. Amazon.com, Inc. (NASDAQ:AMZN) is well-positioned to take advantage of the increasing shift to online shopping and is placed high on our ranking of the best e-commerce stocks to buy now.

On October 27, Amazon.com, Inc. (NASDAQ:AMZN) posted earnings for the third quarter of fiscal 2022. The company generated a revenue of $127.10 billion, up 14.70% year over year, and reported an EPS of $0.28, beating expectations by $0.07.

On November 30, JMP Securities analyst Nicholas Jones reiterated an Outperform rating and his $140 price target on Amazon.com, Inc. (NASDAQ:AMZN). This November, MoffettNathanson analyst Michael Morton took coverage of Amazon.com, Inc. (NASDAQ:AMZN) with an Outperform rating and a $118 price target.

At the end of the third quarter of 2022, 269 hedge funds were long Amazon.com, Inc. (NASDAQ:AMZN) and disclosed positions worth $34.6 billion. This is compared to 252 hedge funds in the previous quarter with positions worth $30 billion. The hedge fund sentiment for the stock is positive. As of September 30, Fisher Asset Management is the dominant shareholder in the company and has stakes worth $5.63 billion.

Here is what Alger Capital had to say about Amazon.com, Inc. (NASDAQ:AMZN) in its third-quarter 2022 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is a well-known online retailer and cloud computing leader. The company’s amazon web services business provides utility-scale cloud offerings that facilitate corporate America’s transition to digital systems. Shares outperformed during the quarter as investors were encouraged by strong second-quarter performance despite a challenging macroeconomic environment. Moreover, the company’s retail segment was resilient and avoided discounting inventory like some major retailers did. Revenues for the company’s cloud computing segment, amazon web services (AWS), grew faster than analysts’ estimates during the quarter due to continuing corporate demand for digitization. As a result, management provided better-than-expected forward guidance.”

You can also take a look at 14 Best Beginner Stocks To Invest In and 10 Best Robinhood Stocks To Buy.