e-commerce stocks to buy now

Are These The Best E-Commerce Stocks To Buy Right Now?

E-Commerce stocks have been reaching new record highs due to the huge arrival of online sales. The world is facing something that hasn’t been seen in our times before. The effects of the COVID-19 pandemic caused the economy to dive. People are staying at home to avoid catching the virus. Since retail locations and shopping malls are closed in many places, people are purchasing items online. Some retail locations are now open but are still not performing well because of the risks of being around others at the moment.

This is great for e-commerce companies in 2020. Presently many top e-commerce stocks to watch have profited from the effects of the pandemic. Numerous e-commerce stocks were able to mend or trend higher than they once were. Investors aren’t sure what could occur with e-commerce stocks in the future. So let’s have a look at three e-commerce stocks that have been performing well in the market.

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Top E-Commerce Stocks To Watch In 2020: Etsy Inc.

On this list of e-commerce stocks, we must talk about Etsy Inc. (ETSY Stock Report). Etsy is an e-commerce company that sells handmade and vintage items. Recently due to the coronavirus, Etsy has seen a big upsurge in sales. This has made shares of ETSY stock soar to new heights. Etsy rules the niche they are in, outperforming the Amazon competitor Handmade.

best e-commerce stocks (ETSY stock)

Etsy’s revenue was up 136.7% year over year to $428.7 million in its second-quarter results. Its net income was $96.4 million as well. This report was released on August 5th, 2020.

The CEO of Etsy, Josh Silverman said, “Our extremely strong second-quarter results, with consolidated GMS and revenue up 146% and 137% respectively, are a testament to the agility of our team, the strength of our brand, the innovation of our sellers, and the unique and special nature of inventory on our core Etsy marketplace.” ETSY stock price has increased by 150% in 2020.

Top E-Commerce Stocks To Watch In 2020: Stitch Fix Inc.

The next e-commerce stock to watch on the list is Stitch Fix Inc. (SFIX Stock Report). Stitch Fix is an e-commerce company that sells a variety of clothing. This e-commerce company emphasizes creating references for people searching for new outfits. For example, once on the website, you can enter your size, style, and your budget and the site will show the best pieces for your standards. Stitch Fix went public via the NASDAQ in 2017 with a $1.6 billion evaluation.

e-commerce stocks to buy (SFIX Stock)

In Stich Fix’s second-quarter results, it had a 17% increase of active clients year over year. In addition to this, its net revenue was 22% higher year over year at $451.8 million.

The CEO and Founder of Stitch Fix, Katrina Lake said, “We are pleased to deliver another strong quarter in Q2. Net revenue was $452 million, representing 22% year-over-year growth, in line with our guidance. We grew active clients to 3.5 million, an increase of 17% year over year, and grew net revenue per active client by 8% year over year, our seventh consecutive quarter of growth, and a reflection of our unique personalization capabilities.” SFIX stock has gone up 8% so far year to date.

[Read More] Are These The Best Stocks To Buy As The Streaming Market Grows?

Top E-Commerce Stocks To Watch In 2020: Shopify Inc.

Lastly, let’s discuss Shopify Inc. (SHOP Stock Report). Shopify is an e-commerce platform for online sellers and retail point of sale systems. Shopify contains several things when using its services. Its services include payments, marketing, delivery, and more. Shopify reported that it actively has more than 1 million businesses using its platform as of June 2019. Shopify released its second-quarter results on July 29th.

best tech stocks to buy (SHOP stock)

Shopify reported that its total revenue in this quarter was $714.3 million, a 97% increase year over year. Its subscription revenue was up 28% as well.

The CFO of Shopify, Amy Shapero said, “The strength of Shopify’s value proposition was on full display in our second quarter. We are committed to transferring the benefits of scale to our merchants, helping them sell more and sell more efficiently, which is especially critical in this rapidly changing environment.”

This massive change in revenue has allowed SHOP stock to uptick exponentially. In 2020, SHOP stock price has increased by more than 124% a share. That is why SHOP stock is on this list of e-commerce stocks.

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