5 Most Promising Long-Term Stocks According to Analysts

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

Number of Hedge Fund Holders: 240

One-Year Average Price Estimate: $133.64

Ranking 2nd in our list of the most promising long-term stocks to buy now is Amazon.com, Inc. (NASDAQ:AMZN). Analysts believe Amazon.com, Inc. (NASDAQ:AMZN) has solid growth prospects on the back of Amazon’s Cloud and ecommerce growth initiatives, in addition to several other business areas.

Goldman Sachs recently said that the concerns regarding AWS slowdown are overblown. Goldman Sachs’ analysts believe Amazon.com, Inc. (NASDAQ:AMZN)’s e-commerce margins can show improvement in 2023. Goldman Sachs said that Amazon.com, Inc. (NASDAQ:AMZN) is “now solidly our top pick for the remainder of 2023 from current trading levels.”

At the end of the last quarter of 2022, 240 hedge funds had stakes in Amazon.com, Inc. (NASDAQ:AMZN). This makes Amazon.com, Inc. (NASDAQ:AMZN) the second most popular stock among elite hedge funds tracked by Insider Monkey.

Artisan Global Opportunities Fund made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2022 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest retailer. The company has gone through a period of massive investment as it doubled its fulfillment network and hired over 800,000 people to meet growing demand over the past few years. Capital expenditure (capex) in the 2017 to 2019 period was $10 billion – $17 billion per year before ramping up to $40 billion in 2020, $61 billion in 2021 and is expected to end 2022 at another $61 billion. We believe the company is in the later innings of this capex cycle and will be transitioning toward a period of harvesting those investments through higher margins and free cash flow generation. At a valuation that appears to be discounting a deteriorating environment for consumer spending, we decided to start a GardenSM position.”