5 Best Beaten Down Stocks To Buy Now

3. JD.Com, Inc. (NASDAQ:JD)

Number of Hedge Fund Holders: 64

JD.Com, Inc. (NASDAQ:JD) had 64 hedge funds long its stock in the second quarter. Their total stake value was $2 billion.

Citigroup’s Alicia Yap maintains a Buy rating and a $64 price target on JD.Com, Inc. (NASDAQ:JD) as of August 17.

JD.Com, Inc. (NASDAQ:JD) is a broad-line retail company that offers supply chain-based tech and services. It is based in China.

This is what Baron Funds said about JD.Com, Inc. (NASDAQ:JD) in its first-quarter 2023 investor letter:

JD.com, Inc. (NASDAQ:JD) is one of the three largest e-commerce platforms in China. Shares declined after the company reported a slowdown in fourth quarter sales and commented that deliberate culling of unprofitable SKUs would also be a drag on headline revenue growth in the first half of 2023. We believe the slowdown was driven by the peak in Chinese COVID lockdowns, which have since ended, and the elimination or reduction of unprofitable business is better for long-term margins and returns on capital. We remain investors.”

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