5 Trending Stocks on Tuesday

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

Number of Hedge Fund Holders: 95

Shares of Amazon.com, Inc. (NASDAQ:AMZN) slightly moved up this morning after receiving an upgrade from MoffettNathanson. The research firm issued an “Outperform” rating for the e-commerce giant and a price target of $118 per share.

MoffettNathanson analyst Michael Morton expressed optimism around e-commerce penetration growth. He thinks giants like Amazon.com, Inc. (NASDAQ:AMZN) will continue to capture market share, given their convenience and price options.

Follow Amazon Com Inc (NASDAQ:AMZN)

Separately, multiple reports suggest that Amazon.com, Inc. (NASDAQ:AMZN) is planning to cut 10,000 jobs, primarily across corporate and technology units, due to macro uncertainty. The reports came just days after social media giant Meta Platforms decided to trim 11,000 employees to save costs.

You can also take a peek at Top 10 High Dividend Stocks To Buy Now and 12 Best Consumer Staple Stocks.

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