5 Best Fintech Stocks To Buy Now

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

Number of Hedge Fund Holders: 143  

PayPal Holdings, Inc. (NASDAQ:PYPL) has quickly become one of the biggest payments firms in the world as more countries adopt the digital economy. The stock is a favorite of institutional investors like hedge funds. With solid fundamentals and strong growth forecasts, analysts are also bullish on the company. Famous investor Jim Cramer also recently touted the power of “neo banks” and payments firms like PayPal, pushing the stock higher. 

Even though PayPal Holdings, Inc. (NASDAQ:PYPL) stock has pulled back in recent weeks amid a broader lull around fintech companies, it is still outperforming the benchmark S&P 500 by nine percentage points.  

At the end of the second quarter of 2021, 143 hedge funds in the database of Insider Monkey held stakes worth $16.3 billion in PayPal Holdings, Inc. (NASDAQ:PYPL), the same as in the preceding quarter worth $14.7 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.” 

You can also take a peek at 10 Best Medical Stocks Under $10 and 15 Best Warren Buffett Stocks to Buy Now.

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