5 Best Tech Stocks For Long Term Investment

In this article, we discuss the 5 best tech stocks for long term investment. If you want to read about some more tech stocks for long term investment, go directly to 12 Best Tech Stocks For Long Term Investment.

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

Number of Hedge Fund Holders: 126 

PayPal Holdings, Inc. (NASDAQ:PYPL) operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The firm has shown over the past few months that the free cash flows it generates are more than capable of withstanding recession pressures. This makes the stock ideal for long-term holding, as it has several avenues for growth in the digital space, which, when combined with recession resilience, make for a very balanced growth and value profile. 

On December 12, Barclays analyst Ramsey El-Assal maintained an Overweight rating on PayPal Holdings, Inc. (NASDAQ:PYPL) stock and raised the price target to $108 from $100. 

Among the hedge funds being tracked by Insider Monkey, Camas, Washington-based investment firm Fisher Asset Management is a leading shareholder in PayPal Holdings, Inc. (NASDAQ:PYPL) with 17.7 million shares worth more than $1.5 billion.

In its Q2 2022 investor letter, Mayar Capital, an asset management firm, highlighted a few stocks and PayPal Holdings, Inc. (NASDAQ:PYPL) was one of them. Here is what the fund said:

“This quarter, we bought shares in PayPal (NASDAQ:PYPL), the payments platform. PayPal has been one of the more high-profile victims of the market’s brutal ruthlessness over the past few months, and the stock fell by over two-thirds between its peak in July to the beginning of March this year. As we progressed PayPal through the Mayar Checklist Process, we identified a business with a leadership position in a structurally growing market.

The company benefits from certain network effects and faces several competitive threats at the same time. As the business profited from the move to online retail during the pandemic, as well as from the stimulus cheques handed out in the US, the stock price soared to absurd levels. As so often happens, however, the market had overcorrected by February and this quarter was offering prospective shareholders prices that assumed essentially zero growth in the business. When life gives you irrational sellers, make lemonade!”