10 Best E-commerce Stocks to Buy as Global Sales Hit Records

7. Target Corporation (NYSE:TGT)

Short Percentage of Float: 3.45

Target Corporation (NYSE:TGT) is one of the best e-commerce stocks to buy as global sales hit records. The retailer’s e-commerce story is tied to its store-based fulfillment network, which lets Target combine online ordering with same-day, next-day, pickup, and Drive Up options. On June 1, Target said it was expanding next-day delivery to more than 50 top U.S. metro areas this spring, giving 60% of the U.S. population access to next-day delivery of online orders. The company said most items eligible for shipping qualify for the service, including hundreds of thousands of products and 85% of what it sells in Target stores.

The digital momentum also showed up in Target’s latest quarterly results. On May 20, the company reported that first-quarter net sales increased 6.7% year-over-year to $25.4 billion, while comparable sales rose 5.6%. Digital comparable sales grew 8.9%, led by more than 27% growth in same-day delivery powered by Target Circle 360. Non-merchandise sales also grew nearly 25%, reflecting strength in Roundel advertising revenue, Target Circle 360 membership revenue, and the Target+ marketplace.

Target Corporation (NYSE:TGT) is a general merchandise retailer that sells owned and national brands through stores, online channels, and home delivery.