5 Best Innovative Stocks to Buy Now

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

Number of Hedge Fund Investors During Q3 2023: 286

Amazon.com, Inc. (NASDAQ:AMZN) is the biggest eCommerce retailer in the world. Stifel’s latest analyst note also cited optimism about its 2024 prospects on the back of growth in the advertising industry, adding that Amazon.com, Inc. (NASDAQ:AMZN) can benefit from better margins and new advertisement formats. Consequently, the firm raised Amazon.com, Inc. (NASDAQ:AMZN)’s share price target to $175 from $173.

By the end of 2023’s third quarter, 286 out of the 910 hedge funds profiled by Insider Monkey had held a stake in the firm. Amazon.com, Inc. (NASDAQ:AMZN)’s largest investor in our database is Ken Fisher’s Fisher Asset Management due to its $5.2 billion investment.

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