5 Best Stocks To Invest In Right Now

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

Number of Hedge Fund Holders: 269

Amazon.com, Inc. (NASDAQ:AMZN) is an American online retailer and is among the highest-grossing e-commerce aggregators. In 2021, the company reported revenue of $386 billion and recorded almost $578 billion in online gross merchandise volume.

On December 01, 2022, John Blackledge, an analyst at Cowen, increased his price target on Amazon.com, Inc. (NASDAQ:AMZN) to $160 while keeping an Outperform rating on the stock. The analyst estimates a decrease in operating loss in 2023, which will reduce cost headwinds on the company.

According to Insider Monkey’s database, 269 hedge funds had stakes in Amazon.com, Inc. (NASDAQ:AMZN) at the end of the September quarter.  Fisher Asset Management remained the leading stakeholder of the company at the end of the third quarter.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks, and Amazon.com, Inc. (NASDAQ:AMZN) was one of them. Here is what the fund said:

Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest retailer and cloud services, provider. Shares of Amazon declined 35% in the quarter due to weaker-than-expected profits resulting from the overcapacity of resources coming out of COVID. We expect Amazon to grow its retail capacity in the coming quarters, enabling it to improve profitability accordingly. Amazon remains one of our largest holdings due to its durable competitive advantages with a leading position in multiple trillion-dollar markets with a long runway for growth (…read more)