5 Best Financial Services Stocks To Invest In Right Now

3. PayPal Holdings, Inc. (NASDAQ:PYPL)

Number of Hedge Fund Holders: 115

Wall Street sees upside to PayPal Holdings, Inc. (NASDAQ:PYPL) and the stock is ranked high among the best financial services stocks to invest in right now. On February 10, Wells Fargo analyst Jeff Cantwell raised his price target on PayPal Holdings, Inc. (NASDAQ:PYPL) to $97 from $95 and maintained an Overweight rating on the shares.

115 hedge funds disclosed having stakes in PayPal Holdings, Inc. (NASDAQ:PYPL) at the end of Q4 2022. The total value of these stakes amounted to $5.1 billion. As of December 31, Citadel Investment Group is the dominant investor in the company and has a position worth $481 million.

Renaissance Investment Management made the following comment about PayPal Holdings, Inc. (NASDAQ:PYPL) in its Q4 2022 investor letter:

“Another underperformer in the quarter was PayPal Holdings, Inc. (NASDAQ:PYPL). Despite reporting solid third quarter operating results and announcing new payment agreements with both Apple and Amazon.com, the company guided for a slowdown in e-commerce activity, partly reflecting weakened consumers who are dealing with heightened inflation. However, we still expect growth in PayPal’s core payments platforms to improve in upcoming quarters, driven by easier year-over-year comparisons.”

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