5 Best E-Commerce Stocks to Buy Now

4. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 68

Walmart Inc. (NYSE:WMT) is one of the largest retail companies in the world, and its e-commerce business is a key component of its success. Walmart Inc. (NYSE:WMT) has been able to leverage its brick-and-mortar presence and large customer base to create an online shopping experience that is both convenient and cost-effective. The company offers a wide variety of products, ranging from groceries and apparel to electronics and home goods. Walmart Inc. (NYSE:WMT) has a strong competitive advantage in the e-commerce market due to its size and scale and is therefore placed among the best e-commerce stocks to buy now.

On November 17, Credit Suisse analyst Robert Moskow raised his price target on Walmart Inc. (NYSE:WMT) to $160 from $145 and maintained an Outperform rating on the shares. This November, Morgan Stanley analyst Simeon Gutman raised his price target on Walmart Inc. (NYSE:WMT) to $164 from $150 and reiterated an Overweight rating on the shares.

At the close of Q3 2022, 68 hedge funds were bullish on Walmart Inc. (NYSE:WMT) and held stakes worth $4.08 billion. This is compared to 67 positions in the previous quarter with stakes worth $3.78 billion. The hedge fund sentiment for the stock is positive. As of September 30, Fisher Asset Management is the dominant shareholder in the company and has a position worth $1.05 billion.

Here is what Leaven Partners had to say about Walmart Inc. (NYSE:WMT) in its third-quarter 2022 investor letter:

“In our last quarterly letter, I briefly mentioned that the consensus estimates for corporate profits appeared to be a bit too sanguine. I referenced a Reuters article that reported, as of June 17, Wall Street expected S&P 500 earnings to grow by 9.6% in 2022, which was up from 8.8% in April and from 8.4% in January. That tune began to change at the end of July and accelerated in August and September, as major players, such as Walmart (NYSE:WMT), has recently issued profit warnings and/or have withdrawn guidance. In response, Wall Street has altered its outlook: lowering third-quarter profit growth to 4.6%^[2] from 7.2% in early August and slashing full-year profit growth to 4.5%.”