5 Most Undervalued Blockchain Stocks To Buy According To Hedge Funds

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

Number of Hedge Fund Holders: 126

Forward P/E Ratio: 17.33

PayPal Holdings, Inc. (NASDAQ:PYPL) is one of the key players in the online payments and blockchain space. Last year, CoinDesk reported that PayPal Holdings, Inc. (NASDAQ:PYPL) Ventures participated in a $200 million funding round for Aptos Labs, a startup that was working on Facebook’s Diem blockchain. PayPal Holdings, Inc. (NASDAQ:PYPL) is investing heavily in the crypto and blockchain segments. It has an entire division called Blockchain, Crypto and Digital Currencies.

PayPal Holdings, Inc. (NASDAQ:PYPL) recently announced that it will lay off about 7% of its global workforce as the company joins the burgeoning list of tech companies that are cutting costs and tightening their belt to brace for a recession.

Hedge funds are piling into PayPal Holdings, Inc. (NASDAQ:PYPL). As of the end of the third quarter of 2022, 126 hedge funds tracked by Insider Monkey reported owning stakes in PayPal Holdings, Inc. (NASDAQ:PYPL), up from 97 funds in the previous quarter.

RGA Investment Advisors made the following comment about PayPal Holdings, Inc. (NASDAQ:PYPL) in its Q4 2022 investor letter:

PayPal Holdings, Inc. (NASDAQ:PYPL) suffered with the slowdown in e-commerce, yet still will have outgrown e-commerce when we see final 2022 numbers. Much like Amazon, PayPal invested far too aggressively on the expectation of sustained elevated growth rates in e-commerce and unfortunately, unlike with Amazon, PayPal’s investment was on ancillary product excursions from which the company is already retrenching. The good news is that with this retrenchment, the company should once again return to its recipe of healthy top line growth and incremental margin leverage, but rather than grow back into their old margin structure they will have to cost-cut their way there.”

You can also take a peek at 15 Countries that Export the Most Beef and 12 Biggest Industrial Software Companies in the World.

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