Do You Have These Top E-Commerce Stocks On Your Watchlist This Month?
E-commerce stocks have been some of the best-performing stocks in the stock market today. E-commerce has been increasing its market share for an extended time now. It is just easier to purchase things online than going to a store. Well, everybody has been stuck at home this year. That means that e-commerce just received a massive boost from consumers. Many top e-commerce stocks to watch have been able to reach new heights because of this.
Companies like Amazon.com Inc. (AMZN Stock Report) and eBay Inc. (EBAY Stock Report) have seen the benefits of this. In September, the e-commerce sector continues to grow as companies report stronger quarterly results. It is unsure what will happen with e-commerce stocks once the world reopens everything again. E-commerce was already performing well previous to the pandemic. There are many e-commerce companies making more profit than ever during the last few months. Let’s look at 3 that have been trending in the market.
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Top E-Commerce Stocks To Watch Before October 2020: Alibaba
First up on this list of e-commerce stocks to watch is Alibaba Group Holding Limited (BABA Stock Report). Alibaba focuses on e-commerce, technology, retail, and much more. The company’s site allows for many different types of selling to consumers and businesses. In 2020, it was announced that Alibaba has the 6th highest brand valuation in the world. Alibaba is the second Asian company to surpass a valuation of over $500 billion USD. Alibaba is the largest e-commerce company and retailer in the world.
In Alibaba’s second quarter reports for 2020, its bottom line increased 36% year over year. In addition to this, its revenue was up 40% year over year to $16.65 billion.
The CEO of the company, Daniel Zhang stated, “Alibaba delivered excellent results this past quarter. We were well-positioned to capture growth from the ongoing digital transformation, which has been accelerated by the pandemic, in both consumption and enterprise operations.”
It will be interesting to see how the coming months affect BABA stock price, as it is already up more than 25% in 2020.
Top E-Commerce Stocks To Watch Before October 2020: Wayfair Inc.
Next up on this list of e-commerce stocks is Wayfair Inc. (W Stock Report). Wayfair sells furniture and home items via an e-commerce platform. The brand offers more than 14 million items from 11,000 suppliers across the world. As of 2020, the company employs more than 12,000 people. W stock is another e-commerce gainer in 2020. Previous to the pandemic, W stock was sitting at $81 a share on average. Then the pandemic arrived and it fell to $23 a share at its low.
Since this fall, W stock price has made an impressive comeback. As of September 23rd, W stock is at $286 a share on average. That is a 253% increase from W stock price recent low. In its August 5th quarterly report, Wayfair’s revenue increased 84% year over year. Total revenues increased 84% annually to $4.3 billion during the period.
The CEO of the company, Niraj Shah said, “We experienced unprecedented demand in Q2 and saw record numbers of new and repeat customers choose Wayfair. Our proprietary logistics network, strong supplier partnerships, and nimble and dedicated team of more than 16,000 employees enabled Wayfair to consistently serve our customers at a time they needed us most, both in North America and Europe.”
Could Wayfair’s momentum continue throughout 2020? That is unsure but what we do know is that W stock should be on your list of e-commerce stocks to watch.
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Top E-Commerce Stocks To Watch Before October 2020: Etsy Inc.
Lastly on this list of e-commerce stocks is Etsy Inc. (ETSY Stock Report). Etsy is an e-commerce company with a focus on selling handmade items, vintage items, and much more. The pandemic has caused a large uptick in the ETSY stock price. This is due to the increased amount of users and sales the company is currently experiencing.
In 2020, Etsy is outperforming its Amazon counterpart (competitor), Handmade. That is why it is on this list of e-commerce stocks to watch.
But what about Etsy’s quarterly results? Well, these were released on August 5th and reported revenue of $428.7 million. This revenue number is 136.7% higher year over year, which is simply incredible for the company. This has resulted in ETSY stock price increased by more than 157% throughout 2020. It will be great to see what Etsy reports for its next quarter. This will likely define the future of this e-commerce stock, and possibly pique the interest of many investors.