8 Good Stocks To Buy Right Now

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

Number of Hedge Fund Holders: 87

PayPal Holdings, Inc. (NASDAQ:PYPL) ranks sixth on our list of good stocks to buy now. The company facilitates digital payments to consumers and businesses in 200 countries. The company generates its revenue from two major sources including transaction revenues and revenues from other value-added services.

For the year ended 2023, the company had 426 million active consumers and merchant accounts. During the same year, PayPal Holdings, Inc. (NASDAQ:PYPL) logged revenue worth $29.8 billion, processed 25 billion transactions, and generated $1.53 trillion in total payment volume. During the second quarter of 2024, the company generated $7.9 billion, up by 8% year-over-year. In addition to that, total payment volume increased by 11% and transaction margin in dollars by 8%.

PayPal Holdings, Inc. (NASDAQ:PYPL) is consistently working to provide premium customer experiences. On October 9, the company launched complete PayPal payments in China after engaging with 700 merchants in the country. In addition to that, Venmo, its product, recently introduced a new feature allowing people to schedule payments and send requests. Previously, in September the company launched a feature allowing business accounts to buy, hold, and sell cryptocurrency.

PayPal Holdings, Inc. (NASDAQ:PYPL) is a widely used service and why wouldn’t it be? It works around the clock to meet the needs of all types of customers, which explains why 87 hedge funds were bullish on the stock at the close of Q2 2024.