5 Internet Retail Stocks To Buy Now

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

Number of Hedge Fund Holders: 269    

Amazon.com, Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products and subscriptions in North America and internationally. On November 21, Amazon was reportedly considering a plan to use an EV startup’s technology in delivery vehicles, strengthening existing partnerships with Rivian Automotive. Amazon also considered coming to the rescue of now-defunct Volkswagen and Ford-backed self-driving startup Argo AI in the past few months. 

On November 2, Tigress Financial analyst Ivan Feinseth maintained a Buy rating on Amazon.com, Inc. (NASDAQ:AMZN) stock and lowered the price target to $192 from $232, noting that the company’s powerful Prime membership momentum increased traction with third-party sellers, strength in AWS, and rapidly growing ad revenue will continue to drive further growth.

At the end of the third quarter of 2022, 269 hedge funds in the database of Insider Monkey held stakes worth $34.6 billion in Amazon.com, Inc. (NASDAQ:AMZN), compared to 252 in the preceding quarter worth $30 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 the overcapacity of resources coming out of COVID. We expect Amazon to grow 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 (…read more)

You can also take a peek at 11 Best Delivery Stocks To Buy and 12 Biggest Militaries in the World.

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