5 Best Financial Stocks to Buy Now

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

Number of Hedge Fund Holders: 143  

PayPal Holdings, Inc. (NASDAQ: PYPL) is placed third on our list of 15 best financial stocks to buy now. The stock has returned 47% to investors over the past year. The firm markets digital payments services and is based in California. On July 28, the firm posted earnings for the second quarter, reporting earnings per share of $1.15, beating market predictions by $0.03. The revenue over the period was $6.2 billion, up more than 18% compared to the revenue over the same period last year. 

On July 29, investment advisory Morgan Stanley maintained an Overweight rating on PayPal Holdings, Inc. (NASDAQ: PYPL) stock and raised the price target to $340 from $337, singling out engagement and acceptance expansion as future growth indicators for the firm. 

At the end of the first quarter of 2021, 143 hedge funds in the database of Insider Monkey held stakes worth $14.7 billion in PayPal Holdings, Inc. (NASDAQ: PYPL), down from 147 in the preceding quarter worth $15.9 billion.

In its Q4 2020 investor letter, Polen Capital Management, an asset management firm, highlighted a few stocks and PayPal Holdings, Inc. (NASDAQ: PYPL) was one of them. Here is what the fund said:

“For the full year 2020, one of the top performers was PayPal, which we purchased in 2019, the company continues to take market share in digital payments and has seen an acceleration in user adoption and engagement, especially within their “silver tech” or older user demographic. We expect many more years of ongoing double-digit growth from their various business segments and new initiatives.”