5 Best Financial Stocks To Buy Now

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

Number of Hedge Fund Holders: 115

At the end of the fourth quarter of 2022, 115 hedge funds were long PayPal Holdings, Inc. (NASDAQ:PYPL) and disclosed stakes worth $5.1 billion in the company. Of those, Citadel Investment Group was the leading stockholder in the company and held a stake worth $481 million.

PayPal Holdings, Inc. (NASDAQ:PYPL) is one of the best financial stocks to buy now. This February, BMO Capital analyst James Fotheringham revised his price target on PayPal Holdings, Inc. (NASDAQ:PYPL) to $108 from $117 and reiterated an Outperform rating on the shares.

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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