4 Top E-Commerce Stocks To Watch Today
Amid the ongoing volatility in the stock market, investors may be zooming out to look for stocks that can benefit from secular long-term headwinds. One of the segments that may be of interest would be e-commerce stocks. Despite weak market sentiments, e-commerce companies are not resting on their laurels on the operating front. In fact, Amazon (NASDAQ: AMZN) recently announced its first “fully autonomous mobile robot” called Proteus. Its role is to move through facilities to lift up transports used by humans to move packages around. Moving forward, Amazon expects the robot to ease the burden in fulfillment centers and sort centers.
Elsewhere, independent food and beverage businesses are now able to gain increased access to same-day or next-day delivery via Local Express through Walmart (NYSE: WMT) GoLocal. This new collaboration will allow Local Express to expand its delivery capabilities to service additional businesses in areas such as Chicago, Miami, and Arlington, Texas. As demand continues to rise for delivery, it is essential that retailers have access to these services. Now, this is another step in modernizing the e-commerce experience for the food and beverage industry. With that being said, it could be a reasonable assumption that e-commerce will continue to flourish. So, here are four of the top e-commerce stocks in the stock market today.
E-commerce Stocks To Watch Before July 2022
- Shopify Inc (NYSE: SHOP)
- Chewy Inc (NYSE: CHWY)
- eBay Inc (NASDAQ: EBAY)
- Global-E Online Ltd (NASDAQ: GLBE)
Shopify provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The company’s software is used by merchants to run their business across all of their sales channels. This includes Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces. With a single view of their business and customers, merchants can manage their products and inventory with great efficiency. SHOP stock has risen more than 10% over the past week.
So, what has been the catalyst for this movement? Well, Shopify recently announced that it is partnering with Twitter (NYSE: TWTR) to make social media shopping more readily available. Shopify merchants will be able to link their Twitter accounts to their Shopify accounts and sync their product catalogs. Additionally, Shopify merchants can advertise specific products on the Twitter platform. Overall, this could potentially bring more revenue to Shopify in the long run. With that in mind, would you consider investing in SHOP stock?
Another top e-commerce name gaining traction among investors lately would be Chewy. For the uninitiated, the company is a pure-play e-commerce company that caters to pet products. Chewy prides itself on delivering the best services as customer satisfaction remains its top priority. Some of its notable brands include A Pet Hub, A Pet’s Life, ABO Gear, Bark, KONG, and others. Impressively, CHWY stock has risen more than 30% over the past month. Keen investors will be on the lookout to see if the stock could keep up its momentum.
Chewy started the month of June by announcing its first-quarter financials. Its net sales came in at $2.43 billion, up 13.7% year-over-year. Meanwhile, its quarterly earnings were $0.04 per share, exceeding the expectations of analysts. These encouraging results are a testament to the company’s resilience in the pet category. Moreover, an analyst from Wedbush, Seth Basham, also boosted his rating on the stock from Neutral to Outperform. He believes that Chewy’s ability to retain its customers and their spending is one of its strong suits. Coupled with the lower valuation of e-commerce stocks right now compared to a few months ago, could CHWY stock be an intriguing investment opportunity?
Following that, we have the global commerce company, eBay. Through its Marketplace, buyers and sellers connect in more than 190 markets around the globe. As online shopping continues to be a part of our lives, eBay is showing no signs of complacency. Last week, the company launched eBay Live, a dedicated shopping platform that gives people a new way to browse and buy collectible products. This will let shopping enthusiasts discover, chat, and purchase from anywhere in the world. Now, the first live shopping event just went live on Wednesday, offering a curated selection of rare trading cards from eBay seller Bleecker Trading.
Not to mention, eBay announced on Wednesday that it has acquired KnownOrigin, an innovative non-fungible token (NFT) marketplace. The addition of KnownOrigin is an important step for eBay’s vision of being the world’s top destination for collectibles. Also, this will allow artists and collectors to create, buy, and resell NFTs. Thus, this could play a role in supporting eBay’s long-term growth. This is not eBay’s first foray into the NFT space. In late May, the company launched a series of exclusive NFTs through a strategic partnership with OneOf, a premier NFT platform. This would contribute to making NFTs more accessible to collectors. Given these exciting developments, should EBAY stock have a place on your watchlist today?
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Last but not least, let us look at Global-E, an Israel-based company that develops an e-commerce platform of the same name. Put simply, it enables direct-to-consumer cross-border e-commerce. Retailers can increase international traffic conversion and sales through its end-to-end solutions that combine localization capabilities, big-data business intelligence models, and cross-border experience. Coming off a strong first quarter in May, Global-E believes that it is poised to continue its fast growth well into the future.
During the quarter, the company reported revenue of $76.3 million, up 65% year-over-year. It is also noteworthy that the company launched a partnership with one of the world’s largest consumer brands, Adidas. Ultimately, supporting its multi-year Direct-To-Consumer strategic initiative. On top of that, Global-E recently announced that it has entered into a definitive agreement with Pitney Bowes (NYSE: PBI) to acquire the global shipping and mailing company’s Borderfree cross-border e-commerce solutions business. The addition of Borderfree will help retailers enter new global markets by localizing their domestic websites around the world. All in all, would you be paying more attention to GLBE stock right now?