5 Best Ecommerce Stocks to Buy Now

2. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 106 

Alibaba Group Holding Limited (NYSE:BABA) provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses. It is one of the top ecommerce stocks to invest in. On October 17, Alibaba announced that it had invested in an open new cloud computing campus for its cloud computing unit, Alibaba Cloud, in Hangzhou. The new campus is roughly the size of Google’s Silicon Valley in California.

On September 30, Morgan Stanley analyst Gary Yu maintained an Overweight rating on Alibaba Group Holding Limited (NYSE:BABA) stock and lowered the price target to $110 from $140. 

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Alibaba Group Holding Limited (NYSE:BABA), with 14 million shares worth more than $1.6 billion. 

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Alibaba Group Holding Limited (NYSE:BABA) was one of them. Here is what the fund said:

“Alibaba Group Holding Limited (NYSE:BABA) is the largest retailer and e-commerce company in China. Alibaba operates shopping platforms Taobao and Tmall and owns 33% of Ant Group, which operates Alipay, China’s largest third party online payment provider. Shares of Alibaba rose during the quarter, driven by an increasing focus on improving capital allocation, an improving regulatory environment, and government stimulus targeting Chinese consumers. We retain conviction that Alibaba will benefit from rapid growth in cloud services, logistics, and retail.”