No doubt you are familiar with PayPal (PYPL) as they dominate online payment processing. And perhaps you are also aware of their successful digital wallet product Venmo that grows into greater adoption by the day.
However, what we investors should really take note of is that they just processed their 14th straight earnings beat since going public. This makes it one of the most consistent growth stories around, which is why shares are up 3 fold in the last 3 years.
Shares are enjoying serious momentum pushing shares to an all time high. This is the main reason behind PYPL attaining a POWR rating of A – Strong Buy. However, the reason I have chosen it as my Stock of the Week has much more to do with the attractive fundamentals. Especially the earnings momentum that is apparent in the string of beats.
I am not alone in my praise of shares. 5 Star analyst, Ramsey El Assel from Barclays just raised his target on shares to a street high of $117. No doubt other analysts will follow.
What’s also interesting is that insiders continue to acquire shares. That is very odd for a company that was an IPO not that long ago as Insiders are usually just selling their shares to lock in their new found wealth. Adding shares at this stage of the game is a strong sign that insiders know more growth and share appreciation is likely on the way.
PayPal (PYPL) is not the only stock enjoying a POWR Rating of A – Strong Buy. These are leading stocks have also been awarded this coveted rating: Broadcom (AVGO), Visa (V), Coca-Cola (KO), Chevron (CVX), and Intuitive Surgical (ISRG). Discover more stocks enjoying a Strong Buy rating at https://stocknews.com/best-stocks/.