11 Best Gig Economy Stocks to Buy According to Hedge Funds

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2. PayPal Holdings Inc. (NASDAQ:PYPL)

No. of Hedge Fund Holders: 90

PayPal Holdings Inc. (NASDAQ:PYPL) is a leading financial services company that supports freelancers and businesses in transferring funds globally. PayPal is one of the top contributors to the gig economy through its online payment services.

On February 10, Macquarie analyst Paul Golding maintained an Outperform rating on PYPL shares and raised the price target on the stock from $115 to $117. The analyst raised the price target on PayPal following its strong Q4 2024 results.

PayPal Holdings Inc. (NASDAQ:PYPL) posted a net revenue of $8.4 billion in Q4 2024, up by 4% year-over-year. The company’s transaction margin dollars soared by 7% from a year ago to $3.9 billion, reflecting strong operational efficiency. The company’s total payment volume was up by 7% year-over-year to $437.8 billion, indicating strong consumer engagement and transaction growth. In FY2024, the company’s total payment volume was around $1.68 trillion, up by 10% year-over-year.

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