5 Tech Stocks to Buy According to Billionaire Philippe Laffont

In this article, we discuss 5 tech to buy according to billionaire Philippe Laffont. If you want our detailed analysis of these stocks, go directly to 10 Tech Stocks to Buy According to Billionaire Philippe Laffont. 

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

Coatue Management’s Stake Value: $755,429,000

Percentage of Coatue Management’s 13F Portfolio: 3.07%

Number of Hedge Fund Holders: 123

PayPal Holdings, Inc. (NASDAQ:PYPL), a financial technology company supporting online money transfers, is one of the best tech stocks to buy according to billionaire Philippe Laffont. As of September this year, Coatue Management holds 2.90 million shares worth $755.4 million, representing 3.07% of the firm’s Q3 securities. 

In the third quarter earnings, published on November 8, PayPal Holdings, Inc. (NASDAQ:PYPL) posted an EPS of $1.11, beating estimates by $0.03. The revenue increased 13.24% year-over-year to $6.18 billion, but missed estimates by $51.87 million. 

Wedbush analyst Moshe Katri lowered the price target on PayPal Holdings, Inc. (NASDAQ:PYPL) to $220 from $240 and kept an Outperform rating on the shares on December 20, citing reduced consumer spending due to inflationary pressures. 

As of Q3, 123 hedge funds tracked by Insider Monkey were bullish on PayPal Holdings, Inc. (NASDAQ:PYPL), down from 143 funds in the preceding quarter. Terry Smith’s Fundsmith LLP is the biggest PayPal Holdings, Inc. (NASDAQ:PYPL) stakeholder, with 12.28 million shares worth $3.19 billion.

Here is what Baron Opportunity Fund has to say about PayPal Holdings, Inc. (NASDAQ:PYPL) in its Q3 2021 investor letter:

“PayPal Holdings, Inc. – PayPal first caught consumers’ attention as a peer-to-peer digital payment application, particularly as a convenient and trustworthy way for eBay buyers to pay eBay sellers in the early days of online shopping. Over the years it expanded to become a near ubiquitous online retail payments platform, while also offering other shopping tools and digital services, such as digital wallet, bill pay, Buy Now-Pay Later, crypto-currency, in-store retail, and more. According to PayPal’s CEO, these new acts enabled the company to increase the TAM it “play[s] in” by “over six times in the last three years.” PayPal has 403 million active accounts today and is on its way towards its 750 million target by 2025 and 1 billion longer term, for a total TAM sized at over $1 trillion.”