5 Smart Home Technology Stocks To Buy Today

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

Number of Hedge Fund Holders: 279

Amazon.com, Inc. (NASDAQ:AMZN)’s Echo smart speakers can control several smart devices, acting as a home automation hub, using the company’s intelligent personal assistant service Alexa. 

On February 3, Amazon.com, Inc. (NASDAQ:AMZN) declared its Q4 results, posting earnings per share of $27.75, exceeding estimates by $24.09. The $137.41 billion revenue gained 9.44% year-over-year. 

Tigress Financial analyst Ivan Feinseth raised the price target on Amazon.com, Inc. (NASDAQ:AMZN) on February 18 to $4,655 from $4,460 and kept a Buy rating on the shares. Amazon.com, Inc. (NASDAQ:AMZN) overcame fears that the company was headed for a slowdown by reporting “record results”, driven by a strong holiday quarter. The analyst sees Amazon.com, Inc. (NASDAQ:AMZN) continuing to benefit from “powerful growth drivers” that include Amazon Prime and AWS cloud growth, and building on its strong growth momentum in 2022.

Hedge fund sentiment was bullish around Amazon.com, Inc. (NASDAQ:AMZN) in Q4 2021, as the number of long positions held by elite funds in the company increased to 279 from 242 in the prior quarter. Fisher Asset Management held a $7.2 billion stake in Amazon.com, Inc. (NASDAQ:AMZN), and is one of the leading shareholders of the company. 

Here is what Polen Focus Growth has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2021 investor letter:

“Amazon has lagged over the past year and a half. The company now must surpass the substantial revenue windfall it achieved in 2020 while also managing supply chain disruptions, wage inflation, and investments to further distance itself from its competition and serve heightened demand. We feel these headwinds are short-term and transitory. Amazon’s first-party ecommerce business is a low (actually negative) margin business, and these short-term investments and inefficiencies are pushing it further into the red. However, the now large, faster-growing, higher-margin businesses like Amazon Prime, AWS, and advertising should allow margins to move much higher over time.

Our view of long-term growth and margin expansion potential for Amazon remains unchanged, and the valuation has only become more attractive. According to our research, if our expectations for free cash flow growth over the next five years materialize, then Amazon has the potential to deliver among the highest returns across our Focus Growth portfolio. It is now our second-largest position, just behind Alphabet.”

You can also take a look at 10 Best AI Stocks for 2022 and 10 Metaverse Stocks to Invest In.

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